Global Flat Steel Market Overview - Week 3, 2018

Chinese HRC export offers decline over weak demand- Chinese HRC export offers decline marginally owing to weak demand prevailing among overseas buyers. However on the other hand prices in the domestic market is moving in upward direction.

Currently HRC commercial grade ASTM A36 export offers are prevailing in the range of USD 570/MT,FoB China.Payment are made on letter of credit basis for 1,000-10,000 MT.

Prices of HRC in domestic market moved up by RMB 10-20/MT D-o-D and are hovering in the range of RMB 4,140-4,180/MT (Eastern China) and RMB 3,940-4,960/MT (Northern China) including VAT & other taxes.

Major mills in China have also lowered their HRC export offers and are heard in the range of USD 575-580/MT FoB basis.

Vietnam HRC Import Offers fell slightly-This week Vietnam HRC import offers for re rolling grade fell marginally from China.

Current offers for HRC re rolling grade 2mm thickness (SAE 1006 ) from China are heard around USD 573-585/MT CFR Vietnam.

Also,few market sources reported that Vietnam has booked HRC cargo from Japan at around USD 625/MT, CFR for Feb'18 end shipment.

However no HRC import offers to Vietnam from India were heard.

South Korean Mills raised HRC Export Offers by USD 25/MT-Few trade sources reported that South Korean based mill- Hyundai Steel has raised HRC export offers for India which are gauged at USD 640-650/MT CFR Mumbai.This will be equivalent to USD 610-615/MT FoB basis.

Although customers were bidding around USD 620/MT CFR basis however no major deal have been concluded yet.

CIS Origin raised HRC Export offers post new year holiday-CIS-nations have raised HRC export offers by USD15-20/MT after year end holidays.

Currently HRC export offers from CIS nations are prevailing in the range of USD 570-595/MT,FoB Black Sea.Previously the offers were heard around USD 540-555/MT FoB basis.

Russian based mills Metinvest are offering on higher side which is around USD 605-610/MT FoB basis.

Global Flat Steel Export Offers-Week 3 2018

Source SteelMint Research
*including VAT