Chinese HRC export offers have gained momentum this week owing to optimistic sentiments in the domestic market and strengthening paper market.HRC export offers have increased by USD 5-10/MT W-o-W.
Current HRC export offers are assessed in the range of USD 430/MT, FoB China. Last week the offers were heard in the range of USD 420-425/MT,on FoB basis.
Meanwhile prices of HRC in domestic market are heard to be in the range of RMB 2,970-2,990/MT which is equivalent to USD 437-438/MT, including VAT & other taxes.
Market participants shared that Chinese export offers have increased this week but this will last only for shorter span of time as the demand still remains sluggish in the domestic market.
Buying activities will start to pick up as the overseas buyers will look for bookings once their inventories get over.However bookings from South East Asian countries have started to show the positive indication.
CIS HRC export offers fall by USD 10/MT W-o-W – HRC export offers from CIS nations fell further this week and are hovering in the range of USD 440-450/MT, FoB Black Sea. Last week, the offers were heard in the range of USD 450-460/MT, FoB Black Sea.
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