Japanese HRC Export Offers Rises Amid Increasing Global Prices

Chinese export offers rises to 15 weeks high over strong domestic market.Following the suit Japanese mills have also raised their HRC export offers by USD 30/MT.

Currently HRC export offers from Japan are hovering in the range of USD 500/MT,FoB Japan which is equivalent to USD 530/MT,CFR Mumbai.Last assessment made towards end of Jun’17 were around USD 460-465/MT,FoB Japan.

However HRC export offers from South Korea are heard at USD 525/MT,CFR Mumbai.

Moreover participants shared that no bookings have concluded yet.Overseas buyers have adopted wait and watch mode as the export offers are on higher side and are holding back purchases.

China-HRC export Offers soar to 15 week high –
Chinese HRC export offers have hit the highest in 15th week on account of bullish sentiments prevailing in the domestic market.Chinese steelmakers have raise the HRC export prices by USD 45-50/MT in last five weeks and have once again raised the HRC export offers by USD 10/MT on further gains in domestic market.

Currently HRC commercial grade ASTM A36 export offers are prevailing in the range of USD 475-485/MT, FoB China. Last week the offers were heard in the range of USD 465-475/MT,FoB China.Payment are made on letter of credit basis for 1,000-10,000 metric tonnes.

Meanwhile prices of HRC in domestic market are heard in the range of RMB 3,660-3,700/MT including VAT & other taxes.

Major Chinese mills are also offering HRC in the range USD 490-500/MT,FoB basis.However,some deals have been concluded with South Korea in range of USD 475-480/MT on FoB basis.

Vietnam HRC import offer Rises by USD 13-15/MT,W-o-W basis
With the hike in HRC export offers from China and India,Vietnam HRC import offers have shown the upward trend and have surged by USD 13-15/MT on weekly basis.

HRC export offers as on 11 th Jul’17

Prices in USD/MT
Source-SteelMint Research