POSCO-Maharashtra Raises its CRC Export Offers Further

Company has raised its CRC export offers by USD 150/MT in last one month from USD 350-360/MT to USD 500/MT.

POSCO-Maharashtra’s price rally in case of CRC export offers seems to be on a ceaseless surge. On 9 Apr’16, SteelMint has reported that the company has raised its CRC export offers by USD 15/MT and he same was being offered at USD 475/MT, FoB India basis.

However, in a recent update on the same sources have informed us that the concern has further raised its CRC export prices by another USD 25/MT and now 0.9mm CRC is being offered at USD 500/MT, FoB India.

The key reason behind sudden surge in prices is global price rises amid bullish sentiments in the market.

“With increase in flat products prices in the global market, queries for India’s CRC export offers have also increased. POSCO-Maharashtra has already booked its deliveries till June’16 and has raised its offers amid tight supply. However up till now no trade is heard at this rate”, quoted an exporter based in Mumbai.

Chinese mills are offering their CRC at USD 460-470/MT, FoB China whereas CIS countries are offering the same at USD 465-470/MT, FoB Black Sea. While CRC offers from Japan is at USD 455-460/MT, FoB basis, POSCO-Korea’s CRC offers are as high as USD 520/MT, FoB basis.

CRC Offers as on 12 Apr’16

Source: SteelMint Research