Chinese HRC export offers rise further by USD 5-9/MT, W-o-W in slower pace owing to weak trading in the global market.In last eleven weeks, nation has recorded growth of HRC export offers by USD 120-125/MT on higher domestic prices.
Currently HRC commercial grade ASTM A36 export offers are prevailing in the range of USD 550-560/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 4,120-4,150/MT (USD 618-622/MT) including VAT & other taxes.
Overseas buyers have adopted wait and watch mode before accepting higher export offers . Major mills in China are offering in range of USD 570/MT on FoB basis.However bookings of 2,000-3,000 MT have been made last week in the range of USD 550/MT to Pakistan.
Market participants shared that thin trading may give enough scope of negotiation to overseas buyers in global market.
Indian HRC export offers remained stable-Indian HRC export offers are at around USD 560-565/MT, FoB India, however market participants remained skeptical about confirmation of bookings at these rates.
Global HRC/CRC offers – Week 35
| Particulars | Currency | Prices |
| HRC, FoB China | USD/MT | 555-560 |
| CRC, FoB China | USD/MT | 595-600 |
| Chinese Domestic HRC, ex-works* | RMB/MT | 4,120-4,150 |
| HRC, FoB Black Sea | USD/MT | 540-560 |
| CRC, FoB Black Sea | USD/MT | 580-610 |
| HRC, FoB India | USD/MT | 565-575 |
| HRC, ex-works Iran* | USD/MT | 684 |
Prices in USD/MT, *including VAT
Source-SteelMint Research,IR Steel
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