Global Flat Steel Market Overview

Bangladesh:
As per market sources, HRC prices in Bangladesh continue to remain firm at USD 425-430/MT, CFR Chittagong from both Japan and Korea. These offers are of prime quality HRC (1.90mm) which is usually not manufactured by Chinese firms. However, due to ongoing monsoon season in the country, the demand for the same continues to remain subdued.

Japan/Korea:
HRC offers from both the countries are currently being heard at USD 400-410/MT, FoB basis. On 5 Aug’16, US has slapped anti-dumping duty of 57% on HRC imports from South Korea. CRC offers from Japan/Korea are being heard at USD 480-490/MT, FOB basis.

Japanese currency, Yen has been appreciating abruptly against US dollar since Jan’16. It has appreciated by 15% in last eight months and currently stands at 1 USD = 102 Yen. The subsequent effect of the same is that Japanese exports will not provide expected realizations to the exporters and the sellers will further increase their product prices in upcoming days.

China:
Flat products export offers from China are exhibiting a positive trend with week on week increase by USD 5-10/MT. Currently HRC offers are being heard at USD 375-380/MT FoB China while CRC (1.0mm SPCC) export offers are being assessed at USD 410-415/MT, FoB basis. On 4 Aug’16, EU has slapped anti-dumping duty on CRC imports from China in the range of 19-22%.

CIS countries:
CIS-origin HRC offers are currently being heard at USD 385-390/MT, FoB Black Sea whereas CRC offers are USD 415-420/MT, FoB Black Sea. On 4 Aug’16, EU has slapped anti-dumping duty on CRC imports from Russia in the range of 19-36%.

India:
India’s HRC offers are currently being heard at USD 375-390/MT. India has recently imposed provisional anti-dumping duty on HRC and CRC imports from China Japan, Korea and Russia for a period of six months whereas MIP on the same has been scrapped.

HRC Export Prices as on 10 Aug’16