Few Indian HRC Export Deals Reported to Nepal

Recently SteelMint learn from market sources that a major private Indian steel manufacturer exported HRC to Nepal for Nov- Dec shipments.Company has concluded HRC deal of around 2 rakes which is coming around 5400 MT in the range of USD 622/MT CFR basis.However ,previous deal was concluded at around USD 625/MT CFR basis.

Meanwhile, a major private Indian mill based in eastern region is offering HRC export offers to Nepal at USD 610- 612/MT CFR landed Raxaul border.However no major deals concluded in these offers.

However other major player commented that they are having pending backlog orders due to some problem in logistics.Thus they will be soon offering HRC export offers to Nepal for Nov-Dec shipments.

Chinese HRC export offers continued to remain downside over dull buying- Chinese HRC export offers is persistently showing downtrend over sluggish buying in export market.Meanwhile thin trades in domestic market is collectively pulling down steel prices from China.

This week HRC export offers from China decline by 5-10/MT W-o-W basis.Currently HRC export offers from China is assessed around USD 535-540/MT FoB basis. However last week offers was assessed around USD 545-550/MT FoB basis.

However prices of HRC in the domestic market is presently assessed at RMB 4,140-4,150/MT (ex-works) in Eastern China and RMB 4,080-4,090 /MT in (Northern China).

Meanwhile major mills in China is offering HRC around USD 545-550/MT FoB basis.

CIS origin HRC export offers drop further - CIS-origin HRC export offers is also witnessing constant drop amid oversupply and dull buying in export market.Meanwhile CIS nations decline HRC export offers in line with lower HRC prices from China.

This week CIS nations decline USD 20-22/MT W-o-W basis.Currently CIS origin HRC export offers heard around USD 495-510/MT, FoB Black Sea.Last week the offers stood at USD 517-523/MT FoB Black Sea.

Imported HRC Offers to Vietnam inch down following decline in Chinese steel prices -This week imported HRC offers to Vietnam from China witnessed drop by USD 5-10/MT on W-o-W basis following steep fall in export offers from China.Imported HRC offers continued to remain on downside in line with lower HRC export offers from Indian and Chinese mills

Current HRC trade offers to Vietnam - Week 44, 2018
1.HRC (SAE 1006) 2-3mm / Chinese offer - Benxi Steel is at USD 550/MT CFR Vietnam.

2.HRC (SAE 1006) 2-3mm / Chinese offer - Laiwu Steel is at USD 545/MT CFR Vietnam.

3.HRC (SAE 1006) 2-3mm / Chinese offer - Rizhao Steel is at USD 550/MT CFR Vietnam.

4.HRC (SAE 1006)) 2-3mm/ Korean offer- Hyundai Steel offer at USD 580/MT CFR basis.

5.HRC (SAE 1006)) 2-3mm/ Indian offer at USD 550-555/MT CFR basis.

Global Flat Steel Export Offers - Week 44, 2018

Source-SteelMint Research