Chinese HRC Export Offer Rises Further amid Growth in Domestic Market

Nation’s domestic market continues to dominate the HRC export offers in China resulting to surge in prices.

Chinese HRC export offers rise further by USD 10/MT, W-o-W basis owing to strength in nation’s domestic market.Optimistic sentiments in China’s domestic market is propelling the Chinese mills to raise the export offers in the global market.

Currently HRC commercial grade ASTM A36 export offers are prevailing in the range of USD 555-570/MT, FoB China. Payment are made on letter of credit basis for 1,000-10,000 MT.

Meanwhile prices of HRC in domestic market moved up by RMB 200-210/MT and are heard in the range of RMB 4,330-4,360/MT (USD 663-667/MT) including VAT & other taxes.

Major mills are offering HRC export in the range of USD 590-595/MT,FoB basis.However some mills are also ready to offer at USD 580/MT,FoB basis.However bookings of 1500 MT have been concluded with Pakistan in the range of USD 560/MT.

China’s domestic market continues to remain on higher side ahead of the 19th National Congress of Communist Party of China.

Flat steel futures continued its upswing today-The most-traded January HRC futures contract edged up by RMB 54/MT to RMB 4,338/MT compared to yesterdays close.

Global Export Offers-Week 37

Source-SteelMint Research
*including VAT