Global HRC Market Overview - Week 3, 2019
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Chinese HRC export offers inch up over rising Yuan- Chinese HRC exports offers inch up in line with uptrend in Chinese currency yuan and strong futures in nation's domestic market.
Currently nation's HRC export offers stood around USD 480-490/MT FoB basis. However previously export offers was in the range of USD 475-480/MT FoB basis.
Also major mills are also offering HRC at around USD 490/MT FoB basis as steelmakers are not in a mood to decline the prices over stronger Yuan.
Imported HRC offers to Vietnam remain Firm - This week imported HRC offers to Vietnam remain firm at USD 480-490/MT, CFR. Meanwhile domestic producer Formosa Ha Tinh Corporation also revised its HRC prices to USD 495/MT CFR basis for Feb Mar shipments.However previously the offers was in the range of USD 480/MT CIf basis.
Imported HRC offers to Vietnam - Week 3, 2019
1.HRC (SAE 1006) 2-3mm / Chinese offer- Rizhao Steel is at USD 480/MT CFR Vietnam.Last week the offers was in range of USD 490/MT CFR basis.
2.HRC (SAE 1006) 2-3mm / Chinese offer - Baosteel is at USD 492/MT CFR Vietnam.Last week the offers remained at similar levels.
3.Confirmed trade deal heard of around 10,000 MT of HRC been booked by major steel mill in China at around USD 480/MT CFR basis to Vietnam based Hoa Sen for February shipments.
Indian steelmakers decline HRC export offers in recent bookings- Major Indian steelmakers have decline HRC export offers in recent booking to Vietnam and Nepal for Feb shipments.
Last week Indian steelmaker based in western region concluded a deal of around 30,000 MT of HRC with Vietnam at USD 480/MT CFR basis.Prior this Indian steel mills were offering HRC at around USD 500-505/MT CFR basis.
Meanwhile recently this week major private steelmaker based in western region booked around 3 rakes of HRC with Nepal at around USD 525/MT CFR basis for Feb shipments.
Thus sluggish trades in domestic market pushes Indian steel mills to focus on exports for overseas buyers.
CIS- origin HRC export offers remain stable - CIS origin HRC export offers remain stable this week.Currently CIS nations HRC export offers are hovering around USD 440-460/MT FoB basis.
| Particulars | Currency | Prices |
| HRC,FoB China | USD/MT | 480-490 |
| CRC,FoB China | USD/MT | 520-530 |
| HRC,FoB Black Sea | USD/MT | 440-460 |
| CRC,FoB Black Sea | USD/MT | 510-530 |
| HRC,CFR Vietnam from China | USD/MT | 480-490 |
| HRC,CFR Vietnam(Formosa Offers,skin pass) | USD/MT | 495 |
| HRC,CFR Vietnam from India | USD/MT | 480 |
| HRC,CFR Nepal from India | USD/MT | 525 |
| HRC,CFR India from South Korea | USD/MT | 525 |
Source- SteelMint Research
