SteelMint in conversation with HRC importers based in Bangladesh learned that, major Indian steelmaker based in eastern region booked HRC with Bangladesh for Sep shipments.
As per an update received an eastern region based major Indian steelmaker has booked around 15,000 MT of HRC close to USD 500/MT CFR Chittagong for September deliveries.
Meanwhile another Indian steel mill based in western region is also offering HRC to Bangladesh at around USD 500-505/MT CFR Chittagong for Sep shipments.
Imported HRC offers to Bangladesh from China- Chinese steel mills have slashed their HRC offers to Bangladesh by around USD 15/MT and are offering at 505/MT CFR Chittagong for Sep shipments which was USD 520-530/MT CFR basis in previous week.
Thus significant fall in Chinese HRC export offers in-turn led to decline in imported HRC offers to Bangladesh for Sep shipments.
Imported HRC Offers to Bangladesh from Japan- Market sources also shared that indicative offers for imported HRC to Bangladesh from Japan is hovering around USD 515/CFR Chittagong. However no major deals have been conlcuded yet as offer price is still under negotiation.
Bangladesh bulk vessel HRC import in Aug’19- As per provisional data maintained with SteelMint, Bangladesh bulk vessel imports in Aug’19 is expected to be around 98,644 MT as against 1,04,926 MT in Jul’19. Majorly HRC imports to Bangladesh were observed from Japan and Taiwan in Aug’19.
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