Recently market sources, shared with SteelMint that imported HRC offers to Bangladesh decline marginally by USD 5-10/MT as Chinese export offers started showing downtrend amid imposed USA tariffs.
Imported HRC offers ( 1.8 – 2 mm) to Bangladesh from China is assessed around USD 640/MT CFR Chittagong. Last week indicative prices were in range of USD 645-650/MT CFR basis.However no major deals have been concluded yet.
End users in Bangladesh are bidding around lower side which is around USD 630-635/MT CFR basis.
A steel manufacturers based in Bangladesh commented“Importers of HRC in Bangladesh are planning to book material in significant quantities as they are waiting for further correction in Chinese steel prices”.
Meanwhile Korean mills have also shown interest in offering HRC to Bangladesh but currently they have not quoted any firm offers for August shipments.
Bulk steel coil imports to Bangladesh witness decline by 17 % Y-o-Y in FY18: According to customs data maintained with SteelMint, Bangladesh imported 7,49,967 MT in FY18 steel coil via bulk imports lower by 17% as compared to 8,99,300 MT in previous fiscal.Bulk coils imports to Bangladesh are made mainly from Japan, Korea and India in FY18.
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