Global Flat Steel Market Overview - Week 45

Chinese HRC export offers continue to plunge over lower trades- Chinese HRC export offers continue to drop as the news of recent production cuts in Tangshan region will take place in winter season. Tangshan, the steelmaking hub in northern China will cut 18.59 MnT of blast furnace capacity over the autumn-winter season.

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 530-535/MT FoB basis. However last week offers was assessed around USD 535-540/MT FoB basis.

However prices of HRC in the domestic market is presently assessed at RMB 4,020-4,040/MT (ex-works) in Eastern China and RMB 4,000-4,010 /MT in (Northern China).

However recent production cuts may witness further drop in Chinese steel prices both in domestic and export market.

CIS origin HRC export offers continued to remain low - CIS-origin HRC export offers continued to remain low over sluggish buying.

Currently CIS origin HRC export offers heard around USD 490-500/MT, FoB Black Sea.Last week the offers stood at USD 495-510/MT FoB Black Sea.

Imported HRC offers to Vietnam decline further-This week imported HRC decline further in line with lower HRC export offers from China.

Currently imported HRC (SAE 1006) is assessed around USD 540-550/MT CFR basis. These levels were last seen in Sept'17.Thus Chinese HRC offer to Vietnam fall 1 year low as the same levels were recorded last in Sep 2017.

However last week the offers was in the range of USD 545-555/MT CFR basis.

Global Flat Steel Export Offers - Week 45, 2018

Source-SteelMint Research