Global HRC Market Overview - Week 13, 2019

Chinese HRC export offers remain stable this week- Nation's HRC export offers remain stable this week as the prices remain firm in domestic market.

Currently nation's HRC export offers is assessed at around USD 535-540/MT FoB basis. Last week the prices continued to remain at similar levels.

However buyers in Vietnam are bidding on lower side owing soft demand in downstream products.

Domestic prices in eastern China (Shanghai) also remain unchanged on D-o-D basis and stood at RMB 3,850-3,870/MT. Meanwhile prices at Northern China stood at RMB 3,800-3,820/MT D-o-D basis in Northern China (Tangshan).

CIS-origin HRC export offers unchanged this week- This week CIS nation's HRC export offers remain unchanged this week .

Currently offers are in the range USD 510-520/MT FoB Black Sea. Last week CIS nation's HRC export offers stood in similar range.

Market sources shared that market sentiments in CIS nations remain bearish over slow demand.

Indian steel mills lower HRC export offers- Indian steel mills lowered their HRC export offers to Vietnam by USD 5-10/MT. Offers stood around USD 550-555/ MT CFR Vietnam which was assessed at USD 560/MT CFR Vietnam in the previous week. However no major deals being concluded at revised offers.

Vietnam mills keep eyeing for lower HRC offers- Imported HRC offers to Vietnam inched down against yesterday amid subdued buying from end users in Vietnam. Meanwhile buyers in Vietnam are expecting lower HRC offers from mills in China.

Current HRC Trade offers to Vietnam - Week 13, 2019

1. HRC (SAE 1006) 2-3mm/Chinese offer - Benxi Iron & Steel is at USD 548/MT CFR Vietnam.

2. HRC (SAE 1006) 2-3mm/Chinese offer - Laiwu Steel is at USD 542/MT CFR Vietnam.

3. HRC (SAE 1006) 2-3mm/Chinese offer - Shagang Steel is at USD 548/MT CFR Vietnam.

Global HRC Market Overview - Week 13, 2019

Source - SteelMint Research