China: HRC Export Offers Rise Marginally Amid Uncertainty in Domestic Market

Volatile market sentiments in China’s domestic market has resulted inrise in HRC export offers by USD 5/MT W-o-W basis.

Chinese HRC export offers rise further by USD 5/MT, W-o-W basis owing to uncertainty in nation’s domestic market.Last Wednesday nation witness the decline in domestic prices but it regained again which lead to upside momentum in export offers.

Currently HRC commercial grade ASTM A36 export offers are prevailing in the range of USD 545-565/MT, FoB China. Payment are made on letter of credit basis for 1,000-10,000 MT.
Meanwhile prices of HRC in domestic market are heard in the range of RMB 4,120-4,160/MT (USD 622-628/MT) including VAT & other taxes.

Major mills are offering HRC export in the range of USD 565-570/MT,FoB basis.However bookings of 2,000 MT have been concluded with Pakistan in the range of USD 560/MT FoB basis.

Although volatility in nation’s domestic market has resulted to uncertain outlook for overseas buyers.

Japan-HRC export offers remained stable
Japanese HRC export offers are hovering in the range of USD 560-580/MT,FoB Japan which is equivalent to USD 600/MT CFR basis.However fresh offers for Japanese HRC export are still awaited in the global market.

Global HRC/CRC offers – Week 36

Prices in USD/MT, *including VAT
Source-SteelMint Research,IR Steel