SteelMint learned from market sources that Korean steel mills have raised HRC export offers by around USD 10-15/MT for April shipments.
Currently HRC export offers from South Korea is heard around USD 665/MT CFR basis.This will be equivalent to USD 630/MT FoB basis.Although no major deals have been concluded yet.
However as per previous assessment HRC export offers were gauged at USD 640-650/MT on CFR basis.
Chinese HRC export offers move up marginally- Chinese HRC export offers inch up by USD 5-10/MT ahead of Lunar New Holidays scheduled in the mid of February’17. During the holidays, manufacturers in China will not be seen offering fresh export offers and will return back in late February.
Currently HRC commercial grade ASTM A36 export offers are prevailing in the range of USD 580-595/MT,FoB China.However as per previous assessment last offers was in range of USD 575/MT,FoB basis.Payment are made on letter of credit basis for 1,000-10,000 MT.
Prices of HRC in domestic market went down by RMB 10/MT D-o-D basis and are hovering in the range of RMB 4,110-4,130/MT (Eastern China) and RMB 4,000-4,030/MT (Northern China) including VAT & other taxes.
However major mills like Yanshan Iron & Steel and Rizhao Iron & Steel in China are offering HRC at USD 595/MT FoB China.
CIS nations flat steel prices remained on higher side despite low demand- CIS-nations flat steel prices remained on higher side despite low demand among overseas buyers.
Overseas buyers are reluctant to purchase at higher prices and have adopted wait and watch mode since low demand will push manufacturers to decline the flat steel prices in near term
Currently HRC export offers from CIS nations are prevailing in the range of USD 575-595/MT,FoB Black Sea.
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