Bangladesh Steel Mills Actively Book HRC; Deals Reported

SteelMint learnt from trades sources that steel mills based in Bangladesh have concluded HRC deals from China and other such countries for early November shipments.

As per assessment,imported HRC offers ( 1.8 - 2 mm) to Bangladesh from major mills in China is assessed around USD 635-640/MT CFR Chittagong for Oct end-Nov shipments. Meanwhile importers have also booked HRC From Japan,Taiwan and Russia for Nov shipments.

Meanwhile major HRC importers based in Bangladesh commented,"Steel mills in Bangladesh observe vigorous booking of imported HRC for Oct-Nov shipments. Meanwhile they are also anticipating decline in imported offers of HRC for further bookings from China".

Current HRC trades to Bangladesh

1.HRC (1.8-2mm)/Chinese offer- confirm trade deal heard from market participant that major importer has booked 15,000 MT from Chinese mill at USD 638/MT CFR for early Nov shipments.

2.HRC (1.8-2mm)/Russian offer- confirm trade deal heard from market participant that major importer has booked 50,000MT from Russian mill at USD 620/MT CFR for Nov shipments.

3.HRC (1.8-2mm)/Taiwan offer- confirm trade deal heard from market participant that major importer has booked 12,000-13,000 MT at USD 620/MT CFR for Nov shipments.

4.HRC (1.8-2mm)/Japan offer- confirm trade deal heard that major importer has booked 30,000-40,000 MT at USD 650-655/MT CFR for Nov shipments.

5.Currently no active offers from Korean steel mills for HRC to Bangladesh.

Bangladesh steel coil Imports in Aug'18-As per the customs data maintained with SteelMint,Bangladesh bulk coil imports stood at 81,368 MT in the month of Aug'18 surge significantly as compare to 29,210 MT in previous month.