Only recently, on 1 Apr’16, SteelMint has reported that Indian manufacturers have increased their CRC export offers from USD 350-360/MT to 450-460/MT, FoB India basis.
However, now the latest update on the same is that POSCO Maharashtra has further raised its CRC offers by USD 15/MT. And thus, currently CRC is being offered at USD 475/MT, FoB India basis.
As per market sources, only bullish sentiments are driving prices in global market, resulting which Indian manufacturers have also increased their CRC export offers. While increment in prices is not backed by any fundamental improvement in demand.
Global Offers
China is offering its CRC at USD 420-425/MT, FoB China whereas, from CIS countries the same is being offered at USD 465-470/MT, FoB Black Sea.However currently, no firm offers are being heard from Korea and its last offers were heard at USD 450-460/MT.
CRC Offers as on 9 Apr’16
| Particulars | Prices in USD/MT |
| FoB India | 475 |
| FoB China | 420-425 |
| FoB Black Sea | 465-470 |
| FoB Korea | 450-460 |
Source: SteelMint Research
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