Chinese manufacturers have raised HDGI export offers by USD 5/MT W-o-W owing to bullish sentiments spread in the domestic market.Market participants mentioned that despite lesser buying inquiries,HDGI export offers surges amid positive domestic market.
Currently China’s 1mm HDGI export offers are hovering in the range of USD 555-565/MT, FoB China. Last week the same was heard in the range of USD 550-560/MT on FoB basis.
Major mills in China are offering in the range of USD 575-580/MT on FoB basis Overseas buyers have adopted wait and watch approach as the offers are too high for them.
Although some deals have been concluded with South America and South Korea in small quantities in the range of USD 560-565/MT,Fob basis.
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