Global HRC Market Overview – Week 26, 2018

Chinese HRC Export offers decline over thin trading- Chinese HRC export offers witness marginal decline. Thus thin trading amid bearish sentiments in domestic market has kept nation’s HRC export offers on lower side.

Currently Chinese HRC export offers heard around USD 590-595/MT,FoB China.However last week the offers are in range of USD 595-600/MT FoB basis.Payment are made on letter of credit basis for 1,000-10,000 MT.

Prices of HRC in the domestic market are gauged at RMB 4,210-4,230/MT (ex-works) in Eastern China and 4,110-4,140 /MT (Northern China).

Meanwhile arrival of monsoon season has weakened the demand in local market leading to decline in domestic prices.

CIS origin HRC export offers inch down marginally – CIS origin HRC export offers decline marginally by USD 5/MT on weekly basis amid weak trading.Deals are happening at lower prices since major Russian mills have not yet announced the offers for August shipments.

Currently HRC (2.5 mm S235 JR) export offers are heard around USD 560-575/MT FoB Black sea.However last week the prices stood in the range of USD 565-575/MT FoB basis.

However Ukraine is offering HRC to Turkey around USD 580/MT CFR Black Sea which is equivalent to USD 560/MT FoB basis.

Vietnam – Imported HRC offers from China decline slightly-Imported HRC offers decline further by USD 5/MT over weakening market sentiments from China.

Meanwhile end users in Vietnam are preferring domestic HRC over imported material amid faster delivery.However competitive pricing from major exporting nations like Russia and India also contributes in declining imported HRC offers from China.

Few HRC trade updates in Vietnam
1.HRC (SAE 1006) 2-3mm / Chinese offer – Benxi Iron & Steel mill at USD 610/MT,CFR Vietnam.Yesterday the offers were at USD 615/MT.

2.HRC (SAE 1006) 2-3mm / Chinese offer – Rizhao Steel at USD 605/MT CFR Vietnam, against yesterday’s offers at USD 610/MT CFR basis.

Major Indian mills conclude export deals to Vietnam – Indian mills have booked over 150,000 MT HRC for export to SE Asian nations as well as Middle East countries. Dull domestic demand and currency depreciation resulted in increased HRC exports from India

Recently a major Indian mill – JSW Steel has recently concluded a deal for about 20,000 MT HRC with Vietnam based mill for August shipment. The deal price is in range of USD 613-615/MT CFR Vietnam.

Global Flat Steel Export Offers – Week 26,2018

Source-SteelMint Research