Global HRC Market Overview - Week 35, 2018

Chinese HRC export offers remain firm despite surge in domestic prices - This week Chinese HRC export offers remain firm despite increase in domestic prices amid recent production cuts.

Currently Chinese HRC export offers heard around USD 580-585/MT, FoB China.Payment are made on letter of credit basis for 1,000-10,000 MT.

Domestic prices move up by RMB 10/MT on D-o-D basis.Prices of HRC in the domestic market are gauged at RMB 4,410-4,420/MT (ex-works) in Eastern China and 4,320-4,330 /MT in Northern China.

Thus Chinese mills have kept HRC export offers on lower side amid dull demand in overseas market.

Indian steel mills offer HRC to Bangladesh for October shipments-Market participant based in Bangladesh shared that,a major Indian mill based in western region has offered HRC to Bangladesh mill at around USD 620-625/MT CFR basis for October shipments. Thus Indian HRC export offers are hovering around USD 580-585/MT FoB India.

HRC export offers from Indian mills to Vietnam is assessed around USD 595/MT, CFR stable on weekly premises.

Japanese & Korean mills in discussions for HRC deals to India- Few market sources shared that Korean and Japanese mills is offering HRC to India in the range of USD 640-645/MT CFR India.

However no major deal has been concluded recently for October shipments amid lower bids. Previously a deal of 20,000 MT of HRC has been booked from Japan at USD 645/MT CFR basis for September shipments.

Global Flat Steel Export Offers - Week 35,2018

Source-SteelMint Research