Global HRC Market Overview - Week 50, 2018

Chinese HRC export offers continued to remain on lower side - Chinese HRC export offers continued to remain on lower side following slump in domestic prices.Currently HRC export offers from China is assessed around USD 475-480/MT FoB basis.

Meanwhile prices of HRC in the domestic market fell further by RMB 10-30/MT on D-o-D basis amid decline in futures market. Presently domestic HRC is assessed at RMB 3,710-3,720/MT (ex-works) in Eastern China.

Sparse trading and low demand continues to prevail amid ongoing winter season and fluctuations in domestic market.

CIS origin HRC export offers remain unchanged ahead of Christmas holidays - CIS origin HRC export offers remain unchanged ahead of Christmas holidays. However mills have already sold out the material for December deliveries.

Currently CIS nations is offering HRC export offers in range of USD 460-475/MT FoB Black Sea.

Meanwhile mills are planning to increase the HRC export offers for January shipments.

Japanese HRC offers to India remain stable - HRC export offers from Japanese mills were heard to remain stable at USD 560/MT, CFR India, unchanged against last assessment.

Imported HRC offers to Vietnam slips further- Imported HRC offers from China slashes further following decline in export offers from China.

Current trades of HRC to Vietnam - Week 50

1.HRC (SAE 1006) 2-3mm / Chinese offer - Xinyu Steel is at USD 490/MT CFR Vietnam

2.HRC (SAE 1006) 2-3mm / Chinese offer - Laiwu Steel is at USD 490/MT CFR Vietnam

3.HRC (SAE 1006) 2-3mm / Chinese offer - Baosteel is at USD 495/MT CFR Vietnam.

4.Few indications for imported HRC heard from Indian mills which is around USD 490/MT CFR basis.

Indian Mill Concluded Deals to Europe- According to market sources report to SteelMint, a major Indian steel maker has concluded a HRC export deal to Europe recently. The deal was heard to have concluded at USD 570/MT, CFR Europe for January shipments.

Absence of Indian HRC Deals to Nepal - Market sources based in Nepal shared that currently no major deals concluded with Nepal for January shipments amid liquidity issue.Meanwhile people are not able to lift material as stock levels is high with the mills.Thus bookings will take some time since customers are quite and requirements of fresh bookings are not coming up in the market.

Global Flat Steel Export Offers - Week 50, 2018

Source: SteelMint Research