Indian steel mill concludes 12,000 t HRC deal to UAE
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Indian HRC export offers remain firm this week after a few deals concluded at higher prices.
This week, a major private steel manufacturer booked around 12,000 t of HRC to UAE at around $525-530/t CFR basis for Sep end/Oct shipments, SteelMint learned from its trade channels.
Last week, a west India-based private steel manufacturer concluded an export deal to UAE for around 26,000 t at $525-530/t CFR basis for Sep loading.
Meanwhile, mills are offering HRC to Vietnam at around $515-520/t CFR basis. However, no major bookings were reported yet for Oct shipments.
Chinese HRC export offers continue to gain momentum-
Chinese steel manufacturers have kept their HRC export offers on the higher side which is around $510-515/t FoB China. However last week the offers were in the range of $505-515/t CFR basis.
Major steel mills are less interested to take orders at lower prices amid optimistic sentiments in the domestic market.
Meanwhile, domestic HRC prices were around RMB 4,080-4,090/t (Eastern China) up by RMB 30/t against RMB 4,050-4,060/t in the preceding week. Prices are inclusive of 13% VAT.
CIS countries continue to increase HRC export offers
CIS countries further raised HRC export offers by $15-20/t following a hike in Chinese export offers. Currently, offers are at $475-480/t FoB Black Sea compared with $460-480/t FoB basis a week ago.
Japanese and South Korean mill raise HRC export offers to Vietnam
Japanese and South Korean steel mills raised HRC export offers to Vietnam and are offering at around $520/t CFR basis for Sep-Oct shipments. The last offers were at $510/t CFR basis.
Meanwhile, Formosa Ha Tinh, Vietnam's largest domestic steel mill, announced a $45/t increase in HRC prices following a hike in imported HRC offers from major exporting nations. Current offers for HRC (SAE1006, skin pass) is around $505/t CIF basis.
South Korean mill books 15,000 t HRC to Bangladesh
A major South Korean steel mill reported booking around 10,000-15,000 t of HRC to Bangladesh at around $515-520/t CFR basis. Last week the mill raised their HRC export offers to Bangladesh for early Oct shipments. Bangladesh imports around 1 mn t HRC annually.
Imported HRC offers to Pakistan
Imported HRC offers to Pakistan are yet to be released by end of this week, SteelMint learned from its trade channels. Indicative levels are heard to be around $535/t CFR basis.
