Imported HRC offer to Bangladesh Rises on Higher Global Offers

While HRC offers to Bangladesh from Japan surged by USD 35-40/MT, offers from CIS countries and China also increased by USD 10-20/MT this week.

The price rally in case global flat products export offers continues to extend without being backed by any fundamental reason.

SteelMint has heard from its market sources that HRC offers to Bangladesh from Japan has surged by USD 35-40/MT this week and HRC is currently being offered at USD 395-400/MT, CFR Bangladesh. Although there is hardly any trades being carried out at such a high prices.

“HRC offers are not firm presently and buyers are quoting the same at USD 385-390/MT. Bangladesh’s domestic demand has improved especially since last one month as this is construction season here before rains start by May end”, quoted a Bangladesh based importer.

Other Global Offers

Chinese HRC export offers are currently assessed at USD 365-370/MT whereas CRC offers are at USD 420-425/MT,FoB China basis.

After sudden surge in China’s domestic HRC prices last month, Chinese sellers have become firm for their export offers. If trade sources are to be believed, few global buyers finally gave up and accepted these high priced Chinese offers.

HRC/CRC Offers from CIS countries this week are up by USD 10-20/MT against SteelMint’s last week assessment. HRC is being offered at USD 385-390/MT whereas CRC is at USD 465-470/MT, FoB Black Sea.

This is because sellers there are waiting for clearer trend for prices and are offering limited volumes in the market.

HRC Prices as on 6 Apr’16

Source: SteelMint Research