Chinese manufactures have once again raised their flat steel export offers by USD 30-35/MT W-o-W amid boost in domestic market.
Good sales realizations in domestic market and surge in coking coal prices have compelled the Chinese manufacturers to increase their flat product prices in global market.
The HRC export offers from China are heard to be in the range of USD 470-480/MT, FoB China.Whereas export offers of CRC are assessed in the range of USD 565-575/MT.
Chinese market has become quite volatile as they continue to show up trend this week in flat product prices.Due to surge in Chinese export offers,overseas buyers have stopped trading and has adopt the wait and watch mode till the prices move down.
As Chinese manufacturers are not willing to sell products below their exports offers so overseas buyers are seeking flat products from India and South Korea.
Therefore, trading activity remains sparse as their is the huge gaps between the offers and the transactions made.Besides this Chinese manufacturers are not in the pressure to complete any sales target.
Hence,they posses the stronger pricing power to conclude the deals in the global market.Although it is difficult to forecast when the Chinese market will retreat the prices.
CIS-origin export offers of HRC are in the range of USD 425-430/MT while CRC offers are heard at USD 535-540/MT FoB Black sea.
Meanwhile, export offers of HRC from India are heard to be at USD 460-465/MT FoB India.Whereas CRC is being offered in the range of USD 535-540/MT,FoB basis.
Flat Product Prices As On 15Th Nov’16
| Particulars | HRC | CRC |
| FoB China | 470-480 | 535-545 |
| FoB Black sea | 425-435 | 535-545 |
| FoB India | 460-465 | 530-535 |
Quantity in USD/MT
Source- SteelMint Research
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