Vietnam Imported HRC Offers Move Up- Few major Chinese steel mills are not offering material owing to upcoming holidays.However few trade sources shared that Chinese based major mill Baosteel is offering HRC at USD 625/MT CFR Vietnam for April shipments.
Imported offers of HRC in Vietnam rose sharply amid higher offers from major exporting nations ,China and India. Previously major mills in China were offering around USD 595-605/MT CFR Vietnam basis.
However,Vietnamese buyers have already booked the material from China amid anticipation of higher prices from China post Lunar holidays.
Also Indian based mill have raised their export offers for Vietnam by USD 5-10/MT which is heard around USD 630-640/MT CFR basis. However previous assessment was at USD 625/MT CFR basis.
Chinese HRC Export Offers Remain Unchanged Ahead Lunar New Year Holidays-Chinese HRC export offers remained unaltered this week ahead of Lunar New Year Holidays which is starting from 15th February’17. Thus manufacturers in China have withdrawn their offers and are anticipating higher prices post holidays.Chinese mills are officially on holidays from 15th Feb to 21th Feb.
Presently HRC commercial grade ASTM A36 export offers are prevailing in the range of USD 585-595/MT,FoB China.Payment are made on letter of credit basis for 1,000-10,000 MT.However offers from few major mills is slightly on higher side.
Prices of HRC in domestic market also remain stable on D-o-D basis and are hovering in the range of RMB 4,110-4,130/MT (Eastern China) and RMB 4,000-4,030/MT (Northern China) including VAT & other taxes.
Also,production mills in Tangshan have decided to limit the production capacity after winter heating season which will also affect nation’s steel prices in near term.
CIS nations witness higher export offers over limited availability-CIS-nations flat steel prices remained on higher side since the mills are facing shortage of inventories in domestic market.Thus they are not focusing on demand for exports from overseas buyers.
Currently HRC export offers from CIS nations are prevailing in the range of USD 575-595/MT,FoB Black Sea.
Major mills like Metinvest is offering at USD 580-590/MT FoB Black Sea for April shipments.Market sources shared that prices may increase further since the steel mills are running short of inventories in domestic market.
South Korea – HRC Export Offers Remain Stable-Korean based mill Hyundai Steel have raised HRC export offers last week and are offering at USD 665-670/MT CFR basis for April shipments.This will be equivalent to USD 630 – 635/MT FoB basis.Although no major deals have been concluded yet.
Also Indian based mill have raised their export offers for Vietnam by USD 5-10/MT which is heard around USD 630-640/MT CFR basis. However previous assessment was at USD 625/MT CFR basis.
Global Flat Steel Export Offers-Week 7, 2018
| Particulars |
Currency |
Prices |
| HRC, FoB China |
USD/MT |
585-590 |
| CRC, FoB China |
USD/MT |
610-615 |
| Chinese Domestic HRC, ex-works* |
RMB/MT |
4,110-4130 |
| HRC, FoB Black Sea |
USD/MT |
575-595 |
| CRC, FoB Black Sea |
USD/MT |
635-645 |
| HRC,FoB South Korea |
USD/MT |
630-635 |
| HRC, CFR Europe from India |
USD/MT |
685-690 |
| HRC,CFR Vietnam from India |
USD/MT |
635-640 |
Source SteelMint Research
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