China plate export offers dip by USD 5/MT :
China’s plate export offers dropped down as the price rally in domestic market started to loose its strength. Chinese plate export offers moved down ,W-o-W basis by USD 5/MT owing to fall in flat plate prices in domestic market.
Current export offers for commercial grade plates are assessed in the range of USD 445-455/MT, FoB China.Last week plate export offers was hovering in the range of USD 455-465/MT, FoB basis for January shipments. No major deals are concluded yet.
Although, current offers for commercial grade plate in domestic market are heard in the range of RMB 3,400-3,430/MT which is equivalent to USD 487-491/MT.
However,thin trading sustained in the market as the market participants are expecting further decline in the export offers.
Domestic plate offers in India at INR 34,500-35,000/MT (ex-mill)
Indian manufactures have raised the flat product prices by INR 3000/MT, w.e.f 01 Dec’16 which also include HR plate prices. Plate prices has gone up significantly on account of increased cost of HR coils.
Currently HR plate prices are hovering in the range of INR 34,500-35,000/MT (ex-Mill) whereas plate prices for ex-Mumbai and ex-Delhi are heard to be in the range of INR 40,500-41,500/MT.
Last week, plate export offers from India were in the range of USD 470-475/MT,FoB India. It is to be noted that SAIL had floated a tender for export of 10,000-20,000 MT mild hot rolled cold plates for which the bids closed on 06 Dec’16.
In case of demand it remains slow but as far as prices are concerned it has been absorbed in the market.
Plate export offers of CIS countries up by USD 10/MT:
CIS-origin plate export offers have increased by USD 10/MT and are assessed in the range of USD 465-470/MT,FoB Black sea.Last week export offers are assessed in the range of USD 450-455/MT.
Japan/ Korea plate offers attractive over Chinese plates:
Japan/ Korean steelmakers are offering HR plates in the range of USD 420-440/MT,FoB Japan. Overseas buyers are showing interest towards Japanese export offers as it is comparatively lower than China’s export offers.
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