POSCO-Maharashtra’s CRC Export Prices Firm amid Volatile Market

Although China is currently facing downtrend in its flat products prices including CRC, POSCO-Maharashtra has kept its CRC export offers high and unchanged since last one month.

Currently the company is offering 0.9mm CRC at USD 545-550/MT, FoB India whereas SPCC 1.0 mm CRC offers from China are being heard at USD 435-440/MT, FoB China. Chinese CRC export prices have plunged by USD 45-50/MT in last one month.

As per trade sources, when there was sudden rebound in prices during Feb and Mar’16, overseas buyers booked CRC in bulk quantity from POSCO-Maharashtra in anticipation that prices may increase further in the upcoming days. Thus, the company has been booked with orders till July. However, at current high rates no fresh trades are being heard with POSCO-Maharashtra.

Although China is offering CRC at much lower prices, country’s market is quite volatile and thus overseas buyers are avoiding bookings in bulk quantities.

CIS-origin CRC exports are currently being assessed at USD 495-520/MT, FoB Black Sea. No fresh offers are being heard from Japan and Korea.

CRC Offers as on 24 May’16

Source: SteelMint Research