Indian Steel Makers Slash CRC Export Offers

Indian steel makers have reduced CRC export offers this week. Presently steel makers are heard quoting offers around USD 575/MT, FoB India which is equivalent to USD 615/MT, CFR Europe.

However trade participants highlighted that these are just the offers, however no trade deals were reported to be concluded.

It seems that Indian steel mills have reduced offers to match up with the Chinese CRC export offers.

Global CRC export offers overview - Week 21, 2017

Chinese CRC export offers have increased marginally this week by USD 5-10/MT amid gains in domestic market. Chinese CRC export offers are at USD 460-465/MT, FoB China.

Few CRC export deals were concluded to South-East Asia based buyers at around USD 460-465/MT, FoB China.

CRC export offers from CIS nations are currently assessed at USD 490-505/MT, FoB Black Sea.

Vietnam HRC import offers move up over increasing offers from China

After witnessing continuous decline in HRC import offers, Vietnam has started experiencing upwards movement in its import offers this week. CRC imports offers fell to USD 425-430/MT, CFR Vietnam.

However strengthening Chinese domestic steel market has pushed up export offers as well. Following this Chinese traders were seen offering at USD 450/MT, CFR for Jul shipment cargoes.

Although HRC offers from other nations like India and Japan remained higher compared to that of Chinese material. Indian HRC export offers to Vietnam were last heard at USD 500/MT, CFR Vietnam.