Global HRC Market Overview - Week 4, 2019

Chinese HRC export offers rise ahead of new year holiday- Chinese HRC exports offers edge up this week as demand has picked up amid tight supply ahead of Chinese new year holiday scheduled in the month of February. However strong domestic demand also pushed prices in upward direction.

This week nation's HRC export offers inch up by USD 5-10/MT.Currently nation's HRC export offers stood around USD 485-495/MT FoB basis.However previously export offers was in the range of USD 480-490/MT FoB basis.

Meanwhile steel prices are expected to remain bullish amid gains in domestic market over tight supply.

Imported HRC offers to Vietnam from china moved up- Imported HRC offers to Vietnam from China moved up by USD 5-10/MT against the previous week.

1.HRC (SAE 1006) 2-3mm/Chinese offer- Benxi Steel is at USD 500/MT CFR Vietnam.

2.HRC (SAE 1006) 2-3mm/Chinese offer - Rizhao Steel is at USD 495/MT CFR Vietnam.
Towards beginning of last week offers were around USD 480/MT, CFR China.

3.HRC (SAE 1006) 2-3mm/Japanese offer - JFE Steel is at USD 540/MT CFR Vietnam.

CIS- origin HRC export offers inch up this week - CIS origin HRC export offers inch up this week by USD 5-10/MT on weekly basis.

Currently CIS nations HRC export offers are hovering around USD 445-465/MT FoB basis.Last week the offers was in range of USD 440-460/MT FoB Black Sea.

Indian mill increases HRC export offers for Vietnam-Indian steel mills have raised HRC export offers to Vietnam by around USD 10/MT for Feb shipments against last week.

A major private Indian steelmaker is offering HRC at around USD 490/MT CFR basis. There were some indications that some deal has been concluded however the quantity could not be confirmed at the time of publishing this report.

Last week the company concluded deal for around 30,000 MT HRC with Vietnam at USD 480/MT CFR basis for Feb'18.

Global HRC Offers -Week 4,2019

Source- SteelMint Research