Bangladesh importers have turned active for imported HRC bookings and have recently concluded a deal of HRC from Japan for August shipments.
Market sources shared with SteelMint,that a major steelmaker based in Bangladesh has booked around 20,000 MT of HRC (1.8-2 mm) from Japanese based steel firm for August shipments. The deal price is heard around USD 660-670/MT CFR basis.
Imported HRC offers from China inched up marginally– Imported HRC offers to Bangladesh inched up marginally by USD 5-10/MT post hike in prices by major steel firms in China.
Major mills in China are offering HRC ( 1.8 – 2 mm) at USD 660/MT CFR Chittagong. However no major deals have been concluded yet.
Previously price assessment was in the range of USD 650-655/MT, CFR basis.
Importers in Bangladesh have recently returned to the market post Ramadan festive holidays.Thus steelmakers are currently observing the market sentiments in order to book material in near term.
Chinese HRC export offers edge up post Dragon Boat post festive holidays- Nation’s HRC export offers inched up slightly on weekly basis post Dragon boat festival.
However domestic prices witness increase over strong futures. Prices of HRC in the domestic market are gauged at RMB 4,270-4,290/MT (ex-works) in Eastern China and 4,220-4,240 /MT ( Northern China).
Currently Chinese HRC export offers heard around USD 595-610/MT,FoB China. Payment are made on letter of credit basis for 1,000-10,000 MT.
Offers from major Chinese mills are assessed at around USD 600-610/MT,FoB China.
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