Chinese HRC Export Offers Jump over Favorable Domestic Market
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Chinese steel mills have raised HRC export offers by USD 5/MT,W-o-W basis over optimistic domestic market. However sentiments continue to remain bearish for coming months over falling futures.
Currently HRC export offers are prevailing in the range of USD 435-440/MT, FoB China. Last week the offers were heard in the range of USD 430-435/MT,FoB China.
Meanwhile prices of HRC in domestic market are heard in the range of RMB 3,250-3,270/MT including VAT & other taxes.
Major Chinese mills are also offering HRC in the range USD 440-450/MT, FoB China.However some deals have been concluded with Middle East countries in the range of USD 435/MT on FoB basis for Jul-Aug'17 shipments.
Japan HRC Export offers remain stable
Japanese HRC export offers remained stable this week with limited trades.Currently Japanese HRC export offers are hovering in the range of USD 450-460/MT FoB Japan which is equivalent to 485-490/MTCFR Mumbai.
Indian CRC Export Offers remain unaltered
CRC export offers remain consistent this week and are heard in the range of USD 560-570/MT FoB .However,some mills are also offering at USD 550-560/MT,FoB basis.Prior to this, offers were assessed at USD 575-580/MT, FoB India a few weeks back.
HRC Export offers as on 13 Jun'17
| Particulars | HRC Export Offers |
| FoB China | 435-440 |
| FoB Black sea | 430-445 |
| Fob India | 455-465 |
| Fob Japan | 450-460 |
Prices in USD/MT
Source-SteelMint Research
