Chinese HRC export offers have shown the upward momentum in the third consecutive week and have raised USD 10/MTW-o-W basis on account of bullish sentiments prevailing in the domestic market.However this has led to drastic fall in buying inquiries from overseas buyers.
Currently HRC commercial grade ASTM A36 export offers are prevailing in the range of USD 450-460/MT, FoB China. Last week the offers were heard in the range of USD 440-450/MT,FoB China.Payment are made on letter of credit basis for 1,000-10,000 metric tonnes.
Meanwhile prices of HRC in domestic market are heard in the range of RMB 3,440-3,480/MT including VAT & other taxes.
Major Chinese mills are also offering HRC in the range USD 460/MT,FoB basis.However,Chinese manufacturers are reluctant to provide any negotiation below these export offers.
Furthermore, Chinese manufacturers have cut HRC export volumes and are focusing more on the domestic sales over good realizations of sales in the domestic market.
India-HRC export Offers Unchanged Amid Weak Buying
Indian steelmakers kept the HRC export offer stable this week since weak and dull buying prevails among the overseas buyers.
Currently HRC (IS 2062)export offers are heard in the range of USD 470-473/MT CFR Vietnam,which is equivalent to USD 460-465/MT FoB India.However no deals have been concluded yet.
CIS-Origin HRC Export Offers Remain Stable
CIS-nations HRC export offers remain consistent this week and are hovering in the range of USD 435-445/MT, FoB Black Sea. Last week the offers were on the similar levels.
HRC Export Reference offers on 27 Jun’17
| Particulars | HRC |
| FoB China | 450-460 |
| FoB Black sea | 435-445 |
| FoB India | 460-470 |
| FoB Japan |
465 |
Prices on USD/MT
Source-SteelMint Research
Leave a Reply