Global HRC Market Overview - Week 8, 2019
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Chinese HRC export offers edges up - Chinese HRC export offers inch up by USD 5-10/MT this week following hike in HRC prices in domestic market.
Chinese mills are increasing HRC export offers in line with rising iron ore prices amid accident in one of the Vale's iron ore mines in Brazil.
Also bullish market sentiments in exports and domestic market over recovery in demand pushes prices in upward direction.
Currently nation's HRC export offers are assessed at around USD 515-520/MT FoB basis.Last week the offers was in range of USD 510-520/MT FoB basis.
Domestic prices in eastern China (Shanghai) up by RMB 20-30/MT and and are hovering at RMB 3,750-3,780/MT. Prices at Northern China up by RMB10 and stood at RMB 3,710-3,720/MT.(Tangshan). Prices mentioned are Ex-factory including 17% taxes.
Imported HRC offers to Vietnam moved up from China-This week imported HRC offers to Vietnam moved up from China post Lunar new Year and Tet holidays.
Currently imported offers of HRC to Vietnam from China is around USD 535-540/MT CFR basis.Last week the offers for imported HRC to Vietnam from Chinese mills was in the range of USD 525-530/MT CFR basis.
Meanwhile Vietnam's domestic mill - Formosa Ha Tinh has significantly raised HRC offers by USD 35/MT and wire rod offers by USD 25/MT for Mar end or early April shipments.
Currently assessed around at USD 535/MT CIF Ho Chi Minh City. Last month offers was around USD 490-495/MT CFR basis.
CIS-origin HRC export offers move up further - CIS origin HRC export offers reported further hike by USD 20/MT over limited supply.
Currently offers are in the range USD 520-530/MT FoB Black Sea.Last week CIS nations HRC export offers are hovering around USD 500-510/MT FoB basis.
Russian mills have already closed their bookings for March shipments and are planning to announce export offers for April shipments shortly.
Imported HRC offers to Bangladesh moved up - Imported HRC offers to Bangladesh moved up significantly from China.Post Lunar New Year holidays Chinese mills have surged HRC offers for importers based in Bangladesh.
As per the sources imported HRC (2mm) offers are heard in range of USD 575-580/MT CFR Chittagong.However no major bookings reported yet.
Global HRC Market Overview - Week 8,2019
| Particulars | Currency | Prices |
| HRC,FoB China | USD/MT | 515-520 |
| CRC,FoB China | USD/MT | 540-550 |
| HRC,FoB Black Sea | USD/MT | 520-530 |
| CRC,FoB Black Sea | USD/MT | 560-570 |
| HRC,CFR Vietnam from China | USD/MT | 535-540 |
| HRC,CFR Vietnam (Formosa Offers,skin pass) | USD/MT | 535 |
| HRC,CFR Vietnam from India | USD/MT | 535-540 |
| HRC,CFR Bangladesh from China | USD/MT | 575-580 |
Source- SteelMint Research
