Indian steel mills further raise HRC offers
Indian steel producers increased offer prices by $10/t w-o-w to $485/t CFR Vietnam basis on the back of higher domestic prices.
Two major private Indian manufacturers had booked 30,000 t and 10,000 t HRC (SAE 1006) for exports to Vietnam at $475/t for Aug end/early Sep delivery at the end of last week.
India sells HRC to UAE
A deal for around 10,000 t India-origin HRC was concluded yesterday at $475-480/t CFR UAE basis.
Last week, importers in UAE had booked 30,000 t HRC from India at $475/t CFR basis for Aug end/early Sep shipments.
Pakistan books 15,000 t HRC from Turkey
Pakistani importers had booked around 15,000 t of HRC (SAE 1006, 2.5 mm) for Sep’20 delivery at $480-485/t CFR Pakistan basis towards the end of last week. Meanwhile, imported HRC offers to Pakistan from Taiwan were heard at around $485/t CFR Pakistan and around $500/T CFR from China
Japan, Korea lift export offers
Japan’s Nippon Steel and South Korea’s Hyundai Steel have lifted their HRC offers to Vietnam by $5/t and are offering at $480/t CFR against $475/t in the previous week.
Chinese HRC export prices gain
Chinese steel mills further raised HRC export offers by around $5-10/t on a weekly basis at $480-490/t FoB China against $475-480/t FoB basis last week. However domestic market prices fell by RMB 10-20/t on a d-o-d basis to RMB 3,920-3,950/t (Eastern China).
CIS HRC export offers move up further
HRC export offers from the CIS countries moved up further by $5-10/t following the hike in global prices. The current offer is at $405-420/t FoB Black Sea compared with $400-415/t a week ago.
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