Chinese HRC export offers have surged this week by USD 10-15/MT on account of optimistic market sentiments in the domestic market. Strengthening domestic market results to rise in HRC export offers in the global market.
Currently HRC export offers are prevailing in the range of USD 440-450/MT, FoB China. Last week the offers were heard in the range of USD 420-430MT, on FoB basis.
Meanwhile prices of HRC in domestic market are heard in the range of RMB 3,240-3,270/MT which is equivalent to USD 471-475/MT, including VAT & other taxes.
Some major mills are also trading at USD 450-455/MT on FoB basis.Deals have been made to Vietnam in the range of USD 440-442/MT on FoB basis. However it is anticipated that HRC export offers may not go down further despite fall in Chinese domestic prices.
Japanese HRC export offers remain unaltered
Japanese HRC export offers remained stable this week on account of fewer bookings in the global market. Market sources mentioned that fewer bookings have been made to India and discussions are in pipeline for further bookings to India.
Japanese HRC export offers remains stable this week and are hovering in the range of USD 470-480/MT FoB Japan and USD 500-505/MT CFR Mumbai
Indian HRC export offers remain stable
Market sources highlighted that Indian steel makers have kept export offers stable at USD 470-480/MT, FoB India. Trade sources shared that Indian steel mills have been heard offering cargoes at around USD 500/MT, CFR Vietnam.
Global HRC export offers- Week 22
| Origin | HRC Export Offers in USD/MT |
| China | 440-450 |
| India | 470-480 |
| Japan | 470-480 |
| South Korea | 465-475 |
| CIS Nations | 430-440 |
FoB Prices mentioned are on per tonne basis
Source: SteelMint Research
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