Weekly: Global HRC and CRC offers increase by $20-30

Indian steel mills raise HRC export offers
Indian mills have raised HRC export offers by around $20/t w-o-w for Sept shipments. Offers for HRC (SAE1006) exports were at $505-510/t CFR Vietnam against offers of $485/t CFR last week.

An increase in Chinese futures and an uptrend in India's domestic prices propelled mills to increase overseas offers.

Chinese mills raise HRC export offers
Chinese steel manufacturers have raised their export offers by $15-25/t on higher prices and low inventories in the domestic market.

Current HRC export offers were at $ 490-505/t FoB China. Last week, the offers were in the range of $475-480/t FoB basis.

Meanwhile, domestic HRC prices stood around RMB 4,060-4,070/t (Eastern China) a surge of RMB 140/t on a w-o-w basis.

Imported HRC offers to Vietnam surge by $25-30/t from China
Chinese HRC offers to Vietnam witnessed a steep hike of around $25-30/t on a $510-515/t CFR Vietnam basis.

Prior to this, last week's offer was in the range of $ 485-490/t CFR basis.

Meanwhile, importers based in Vietnam remained quiet and are observing market trends.

Imported HRC offers to Pakistan jumped by $30/t from China
Chinese steel mills were offering HRC to Pakistan at around $525-530/t CFR basis for Sep shipments, which was at $500/t CFR last week.

Turkey and Taiwan-based steel mills also offered HRC at $525-530/t CFR basis.Last week's offers were at $480-485/t CFR basis.

CIS countries raise HRC export offers
The CIS has raised HRC export offers by $25-30/t following an increase in raw material prices and limited supplies in the market.

Currently, offers were at $435-445/t FoB Black Sea compared with $405-420/t FoB basis a week ago.

Global HRC & CRC offers mentioned below