After raising its CRC export prices by USD 150/MT in mid-April, company has further raised its offers by USD 35-40/MT backed by price surge in global export offers.
SteelMint has reported on 12 Apr’16 that POSCO-Maharashtra has raised its CRC export offers from USD 350-360/MT to USD 500/MT. This move came after the Chinese export offers surged following gains in domestic market.
However, in a latest update on the same, sources have informed SteelMint that company’s CRC (0.9mm) export offers have been raised by USD 35-40/MT to USD 535-540/MT, FoB India.These offers are being made by the company for Middle east countries. CRC export prices have been highest since January 2015.
“Although no trades are currently being heard at USD 535-540/MT, FoB India level, company has its raised offers following surge in offers of China, Japan and Korea. Those buyers who are in need of material are ready to pay the price in anticipation that prices may increase further in coming days”, quoted an exporter based in Mumbai.
Chinese mills are offering CRC(0.9mm) at USD 505-510/MT, FoB China whereas CIS countries are offering the same at USD 475-480/MT, FoB Black Sea. CRC offers from Japan and Korea are assessed at USD 515-520/MT, FoB basis.
CRC Offers as on 28 Apr’16
| Particulars | Prices in USD/MT |
| FoB India | 540 |
| FoB China | 505-510 |
| FoB Black Sea | 475-480 |
| FoB Korea | 515-520 |
Source: SteelMint Research
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