Imported HRC Offers to Bangladesh at USD 350-360, CFR Basis

Bangladesh which is Asia’s one of the emerging steel market has growing need for raw material and steel making technologies.

The country’s annual steel consumption is around 4 MnT and with government’s programs to promote infrastructure development, country’s steel industry is expected to grow at the rate of 12% in coming years.

Bangladesh’s half of the steel requirement is met through imports with highest imports being booked from Japan followed by South Korea and India. The country imported about 0.93 MnT of HRC in the year 2014.

Current HRC offers from Japan to Bangladesh is being assessed at USD 350-360/MT, while CRC offers are heard at around USD 450/MT, CFR Bangladesh basis. However, no firm offers are being heard from Korea currently.

Also after recent price hike in domestic flat steel market post MIP, Indian manufacturers are not much keen in exports given better realizations in the domestic market.

Global HRC Offers

China’s HRC offers are heard at USD 360-370, FoB China while HRC from CIS countries are being offered at USD 365-370, FoB Black Sea. Korean and Japanese HRC offers are assessed at USD 325-330/MT, FoB basis.

HRC Offers as on 28 March, 2016

Source: SteelMint Research