Global Flat Steel Export Offers-Week 16, 2018

Vietnam steel mill books 20,000 MT Chinese HRC - Imported HRC offers have remained firm.Major mills in China like Benxi Iron and steel is offering Imported HRC at USD 610/MT CFR basis. Meanwhile Rizhao Steel is offering HRC at USD 600/MT CFR Vietnam.

However Maganag steel is offering on lower side which is around USD 598/MT CFR basis.

Market sources also mentioned that Hoa Sen Steel manufacturers and trades in cold rolled, plastic building materials and steel pipe products in Vietnam has concluded a deal of 20,000MT which is heard in the range of USD 593/MT CFR basis.

China: HRC export offers remain firm despite in domestic prices-China's HRC export offers remained firm this week despite upward momentum in domestic steel prices.Thin trading and bearish sentiments have kept the HRC offers supported in export market.

Currently Chinese HRC price assessment is in the range of USD 580-585/MT,FoB China. Payment are made on letter of credit basis for 1,000-10,000 MT.

Prices of HRC in the domestic market are gauged at RMB 3,970-4,020/MT (ex-works) in Eastern China.

End users are currently observing the market trends over fluctuating prices and are bidding on lower side which is around USD 570-575/MT in export market.

Japanese HRC export offers fell down marginally-Market participants shared that export offers of HRC from Japan moved down slightly by USD 5-10/MT. Current assessment by major mills is at USD 640-650/MT, FoB but no firm deals were reported.

CIS-Origin export offers remain stable -CIS nations HRC export offers remain unaltered owing to limited trade activity happening in export market.

Currently HRC export offers from CIS nations are heard 590-600/MT FoB Black Sea.Russian mills are offering HRC at USD 600-605/MT FoB basis for May shipments.