SteelMint learned from market sources that steel mills in Bangladesh are actively booking HRC from Chinese mills for September shipments. However imported offers of HRC to Bangladesh from China continued to remain firm in recent bookings.
As per assessment, imported HRC offers ( 1.8 – 2 mm) to Bangladesh from China is assessed around USD 645-646/MT CFR Chittagong. Last week HRC offers from major mills were assessed in similar range.
Meanwhile a Bangladesh based importer shared that, major mill in Bangladesh has concluded a deal for around 12,000-14,000 MT of HRC with Chinese based major mill- Baosteel at USD 645/MT CFR Chittagong for September end or early October shipments.
Another major mill in Bangladesh booked around 15,000 MT HRC from Chinese mill at USD 642-644/MT CFR basis for September shipments.
Few other steel mills are in discussions with Chinese mills to book HRC in near term.
A market participant based in Bangladesh shared,”HRC importers in Bangladesh are actively booking material for September shipments over urgent requirement.Also current levels of imported HRC from China are acceptable and has been accepted by Bangladesh based buyers”
However no fresh offers for imported HRC from Korean mills and similarly Japanese mills are not actively importing HRC to Bangladesh.
Bulk steel coil imports to Bangladesh fall in Jul’18: According to customs data maintained with SteelMint, Bangladesh imported 29,210 MT steel coil in the month of Jul’18 via bulk imports down significantly against 72,116 MT in previous month.
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