Imported HRC offers to Bangladesh continued to remain stable this week amid limited trades happening in Bangladesh market.
Major mills in China are offering HRC ( 1.8 – 2 mm) at USD 650-655/MT CFR Chittagong. Price assessment is primarily stable against last week which was around USD 645-655/MT, CFR basis.
Starting of Ramadan activities along with arrival of monsoon season has lead to dull buying and bearish sentiments in Bangladesh market.
A manufacture based in Bangladesh commented,”Buyers are not aggressive at the moment as they are booking the material in small quantities.Also they are eyeing for decline in Chinese HRC export offers in near term before booking material”.
Market participants shared that last week a Chinese mill have concluded a deal of 10,000 MT of HRC to Bangladesh mills in the range of USD 643/MT CFR Chittagong for July shipment.
Imported HRC offers to Bangladesh from Japan – Market participants mentioned that Japanese based major mill have given the price indication for HRC which will be around USD 660/MT CFR Chittagong for July shipments.However no major deals have been concluded yet.
Although South Korea is currently focusing on domestic market amid limited allocation and is not quoting any offers to Bangladesh for July shipments.
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