Global Flat Steel Market Overview- Week 30, 2018
Mining News Pro - Chinese HRC Export offers inch down- Chinese HRC export offers have come down marginally this week over softening demand in domestic and export market.Meanwhile in past few week devaluation of Chinese currency Yuan against RMB resulted in weaker sentiments in domestic market.
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Currently Chinese HRC export offers heard around USD 575-580/MT, FoB China. Payment are made on letter of credit basis for 1,000-10,000 MT.Last week the offers were in range of USD 580-585/MT FoB basis.

Prices of HRC in the domestic market are gauged at RMB 4,240-4,260/MT (ex-works) in Eastern China and 4,170-4,180 /MT (Northern China).

CIS origin HRC export offers decline over dull trades - CIS origin HRC export offers moved down slightly over scant buying.Major mills in Russia have kept the offers on higher side for August shipments however lower bookings resultant to edge down in HRC export prices.

Currently HRC (2.5 mm S235 JR) export offers are heard around USD 560-565/MT FoB Black Sea.However last week the prices stood in the range of USD 560-575/MT FoB basis.

Imported HRC offers to Vietnam from China remain firm, importers seek correction -This week imported offers of HRC continued to remain on lower side amid inactive buying from end users in Vietnam.Meanwhile buyers in Vietnam are also preferring domestic HRC from Formosa amid competitive pricing. Towards end of last week, Formosa had cut prices by USD 15/MT for skin pass HRC which stood at USD 610/MT CIF basis.

Currently Chinese mills are offering imported HRC (SAE 1006) to Vietnam in range of USD 605-610/MT CFR basis.However end users are bidding on lower side.Thus no major deals have been concluded yet.

Indian HRC export offers remain inactive- Indian steel mills have turned silent for HRC export offers as they have adopted wait and watch mode after exporting significant quantities to South East Asian nations last month. Market participants shared no trades to Nepal amid rains and pending dispatches of previous orders. For Vietnam last week offers were heard at around USD 600-605/MT, CFR, however this week no firm offers were heard.

Global Flat Steel Export Offers - Week 30, 2018

Particulars

Currency

Prices

HRC,FoBChina

USD/MT

575-580

CRC,FoBChina

USD/MT

615-625

HRC,FoBBlackSea

USD/MT

560-565

CRC,FoBBlackSea

USD/MT

625-630

HRC,CFRVietnamfromChina

USD/MT

605-610

HRC,CFRVietnamfromIndia

USD/MT

600-605



 


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