China’s HRC export offers witnessed increase this week by USD 10-15/MT W-o-W basis amid gains in the domestic market. Surge in domestic steel prices has resulted in increase in HRC export offers from China.
Currently Chinese HRC price assessment is in the range of USD 595-600/MT,FoB China.Payment are made on letter of credit basis for 1,000-10,000 MT.Last week the offers stood at USD 580-585/MT FoB China.
Prices of HRC in the domestic market are gauged at RMB 4,080-4,120/MT up by RMB 20-30/MT D-o-D basis (ex-works) in Eastern China and RMB 3,990-4,020 up by RMB 40-50/MT (Northern China).
Major mills in China have kept HRC export offers on higher side which is around USD 600-610/MT FoB basis.However no deals have been concluded.Meanwhile market sources shared that prices are likely to go up in domestic market in near term.
Indian HRC export offers remain unchanged– Indian mills are offering HRC export to South East Asian nations at around USD 640/MT CFR basis.,which is close to USD 625/MT FoB basis.Thus these offers are considered too high for South East Asian buyers since the offers from Chinese mills continued to remain more attractive and economical as compared to offers from India.
Market participants mentioned that around 15,000 MT HRC has been booked for export to European nations at around USD 640-645/MT, FoB.
CIS-Origin export offers remain unaltered over limited trades-CIS nations HRC export offers remain unaltered this week owing to low trading in export market.
Currently HRC export offers from CIS nations are heard 590-600/MT FoB Black Sea.Russian mills are offering HRC at USD 600-605/MT FoB basis.
South Korea Decline HRC exports Offers,Deals Concluded to India-Recently market participants shared with SteelMint that Korea has booked 30,000 MT of HRC cargo with Indian mills in the range of USD 665-670/MT CFR basis for June shipments.Thus offers have declined by USD 15-20/MT on CFR basis.
Previously Korean mills are offering HRC exports on higher side which is around USD 680-690/MT CFR for Indian mills.
Global Flat Steel Export Offers-Week 17, 2018
| Particulars | Currency | Prices |
| HRC, FoB China | USD/MT | 595-600 |
| CRC,FoB China | USD/MT | 610-620 |
| HRC, FoB Black Sea | USD/MT | 590-600 |
| CRC, FoB Black Sea | USD/MT | 625-660 |
| HRC,FoB India for Europe | USD/MT | 640-645 |
| HRC,FoB South Korea | USD/MT | 635-640 |
| HRC ,CFR Vietnam from China | USD/MT | 615-620 |
Source-SteelMint Research
Leave a Reply