Global HRC Market Overview – Week 28, 2018

In the beginning of this week, Chinese mills have lowered export offers. However offers from CIS nations continue to remain stable.

Chinese HRC Export offers decline sharply- Chinese HRC export offers witnessed sharp decline of around USD 10-15/MT W-o-W. Mills have turned active for exports following RMB depreciation against USD.

Currently Chinese HRC export offers heard around USD 580-585/MT,FoB China.However last week the offers are in range of USD 590-595/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 4,230-4,250/MT (ex-works) in Eastern China and 4,110-4,120 /MT (Northern China). Domestic prices in eastern China have moved up on supply concerns to reduce emissions.

CIS origin HRC export offers remain stable – CIS origin HRC export offers have remained stable this week as Turkish buyers remained resistant in booking HRC from mills in CIS nations.

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.

Limited offers heard from Japan & South Korea – HRC offers from Japan to India are heard in the range of USD 640-655/MT, CFR India levels. However as per market sources, South Korean mills are likely to resume fresh export offers next week.

Indian HRC export offers remain stable – Indian HRC export offers to SE Asian nations like Vietnam is heard to have remained unchanged at USD 610-615/MT, CFR levels.

Global Flat Steel Export Offers – Week 27, 2018