Chinese HRC export offers remain stable however offers from CIS nations have moved down this week. Indian mills remained inactive this week in quoting offers to overseas market.
Chinese HRC export offers remain stable despite gains in domestic market– Nation’s HRC export offers remain stable on W-o-W basis despite gains in the domestic market.Strong futures lead to rise in domestic prices in China.
However HRC export offers remain steady and currently heard around USD 590/MT,FoB China.Payment are made on letter of credit basis for 1,000-10,000 MT.
Major mills in China were offering HRC export offers around USD 600/MT,FoB China.
Prices of HRC in the domestic market are gauged at RMB 4,250-4,280/MT (ex-works) in Eastern China and 4,100-4,120 /MT ( Northern China).
Japanese Mills are likely to increase offers amid strengthening domestic market- Japanese steelmakers have raised steel prices in domestic market by Yen 3000/MT for June deliveries amid strong demand in domestic market.Thus surge in domestic prices compelled them to raise export offers from Japan.
Offers from South Korean steel mills – Owing to limited allocations for exports and strong demand in domestic market,Korean steel mills are offering HRC exports on higher side.
Last week Korean mills were quoting HRC offers which is around USD 690/MT CFR India.However they have withdrawn their offers amid dull buying.
CIS origin HRC export offers decline – CIS origin HRC export offers moved down by USD 10-15/MT on weekly basis.
Currently HRC (2.5 mm S235 JR) export offers are heard around USD 545-560/MT FoB Black sea.However last week the prices stood in the range of USD 540-575/MT FoB basis.
India steel mills concluded few export deals to Nepal earlier this month– Around couple of weeks back Indian mills have booked some quantities of HRC for export to Nepal.
Last trades made to Nepal for HRC (2mm, tube grade) was assessed at around USD 670-685/MT, landed Raxaul border depending on the mills. This would come to around USD 640/MT (ex-plant).
However Indian export offers to Vietnam remain on lower side which is around USD 605-610/MT CFR basis.
Global Flat Steel Export Offers – Week 22,2018
| Particulars | Currency | Prices |
| HRC, FoB China | USD/MT | 590 |
| CRC,FoB China | USD/MT | 625 |
| HRC, FoB Black Sea | USD/MT | 545-560 |
| CRC, FoB Black Sea | USD/MT | 610-615 |
| HRC,CFR Vietnam from China | USD/MT | 600-610 |
| HRC,CFR Nepal from India | USD/MT | 670-685 |
| HRC,CFR Vietnam from India | USD/MT | 605-610 |
Source-SteelMint Research
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