Japanese HRC Export Offers Increase by USD 5-10/MT W-o-W

Japan HRC export offers surged this week by USD 5-10/MT, W-o-W basis owing to improving demand of HRC from Indonesian buyers. Current HRC export offers for this week are hovering in the range of USD 535/MT, FoB Japan and to Bangladesh offers are in the range of USD 590/MT,CFR, Chittagong.

China’s HRC Export Offers Rises Over Domestic Gains-
Chinese manufacturers have increased the HRC export offers on account of domestic gains and bullish sentiments spread in the domestic market. Export offers have shown up-trend in the backdrop of improving demand in the domestic market.

China’s HRC export offers have moved up by USD 5/MT W-o-W basis for March/April shipments and are currently hovering in the range of USD 505-510/MT,FoB China. However, last week the export offers were assessed in the range of USD 500-505/MT,FoB basis.

Meanwhile, prices of HRC in China’s domestic market, up by RMB 50-60/MT and are recorded in the range of RMB 3,810-3,840/MT equivalent to USD 555-559/MT.

Notably, HRC export offers from China have started to edge up owing to sharp rise in paper market. However no major deals have been settled yet.

Demand from overseas buyers has seen gradual improvement as they are anticipating further rise in prices. Although, overseas buyers are also eyeing on cheaper alternatives for HRC exports from Russia, India and Turkey.

Market participants mentioned that a deal of 30,000 MT of HRC has been exported to Vietnam and South Korea in the range of USD 505/MT,FoB basis. Some mills have also exported HRC in the range of USD 500-503/MT.

HRC  Export offers as on 20 Feb’17

Source-SteelMint Research