POSCO Maharashtra Increases its CRC Export Offers by USD 20-40/MT

In a recent update in India’s cold rolled export market, CRC major in India, POSCO Maharashtra has increased its CRC export prices by USD 20-40/MT.

Current CRC offers from India are being assessed at USD 500-520/MT, FoB India basis. Increase in global flat products prices is giving good sales realizations to the domestic manufacturers in export market. Thus, Indian players are now focusing even on overseas sales.

India’s CRC export sales from Jan-Sep’16 stands at 0.61 MnT, up by 36% against 0.45 MnT in corresponding period of previous year.

Because of National Day holiday this week, no new offers for CRC have been heard from China. Last week CRC (SPCC 1.0mm) offers were heard at USD 445-450/MT, FoB China.

CRC export offers from CIS countries are being heard at USD 430-440/MT, FoB Black Sea, unchanged against last week. Japan/Korea has been offering CRC at USD 520-530/MT, FoB basis.

UAE ‘s CRC import offers are being assessed at USD 470/MT, CFR basis from China. Demand for steel in UAE is still remains muted. However it better than what it was during Eid-Al Adah month of Sep’16.

CRC Prices as on 6 Oct’16

Source: SteelMint Research