SteelMint in conversation with market participants learned that imported HRC offers to Bangladesh remained firm this week amid limited bookings of HRC heard in Bangladesh market.
Currently imported HRC (1.8-2mm) HRC offers are hovering at USD 580-590/MT CFR Chittagong for April shipments, similar to the last week offers.
Market sources shared that, “Dull sentiments are prevailing in domestic market and currently buyers are having less appetite of restocking the material at the moment. No significant deals were reported recently”.
Thus major steel importers have adopted wait and watch mode and will be observing the market trends thereby will make the bookings further.
Meanwhile end users are also waiting for Japanese mills to release their latest offers for Bangladesh mills for April shipments.
Bangladesh bulk HRC import data for Feb’19- As per provisional data maintained with SteelMint, Bangladesh bulk vessel imports in Feb’19 stood at 44,740 MT in Feb’19 inched down by 2% against 46,260 MT in Jan’19.
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