Global Flat Steel Market Overview – Week 43

Chinese HRC Export Offer; market remains inactive
Chinese HRC export offers gained the momentum on weekly despite weak trading among overseas buyers.Uncertainty in China’s market sentiments has propelled the buyers to wait for the clear direction.

Currently HRC commercial grade ASTM A36 export offers are prevailing in the range of USD 560-570/MT, FoB China..Payment are made on letter of credit basis for 1,000-10,000 MT.

Prices of HRC in domestic market have noticed a decline today are heard to be in the range of RMB 4,150-4,180/MT including VAT & other taxes.

Major mills have remained uncertain about the prices but few are quoting in the range of USD 575-580/MT FoB basis.

Chinese mills are also interested in offering to South America in the range of
USD 570-580/MT,on FoB basis.

CIS-Origin HRC Exports Offers fall amid weak buying-
CIS nations HRC export offers are heard in the range of USD 540-575/MT, FoB Black Sea which was previously heard in range of USD 550-575/MT, FoB.

Absence of South Korea HRC export offers – South Korea HRC exporters are not heard of quoting offers in the market. As per sources last deal concluded for November shipment was are heard around USD 640/MT, CFR Bangladesh.

Indian HRC export trades remain weak – Indian mills are heard offering HRC in overseas market at around USD 580-585/MT, CFR Vietnam. Although as per sources, bookings have remained weak at these levels.

Global Export Offers-Week 43

Source-SteelMint Research
*including VAT