Imported HRC offers to Bangladesh continued to remain firm from Chinese mills. Thus importers based in Bangladesh have adopted wait and watch mode as they are anticipating further correction in Chinese offers in near term.
As per assessment, imported HRC offers ( 1.8 – 2 mm) to Bangladesh from China is assessed around USD 640/MT CFR Chittagong.
However Chinese based major mill – Baosteel is offering imported HRC (2 mm) in the range of USD 650/MT,CFR Bangladesh for September shipments. However no major deal was concluded.
Major steel importer based in Bangladesh mentioned that“In the first week of August most of the mills in Bangladesh are likely to resume bookings as per their requirement”.
Meanwhile Japanese and Korean mills have not quoted any fresh offers for imported HRC for September shipments.Also Vietnam based domestic mill – Formosa is heard offering HRC to Bangladesh, however deals could not be confirmed.
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