Other Elements and Materials

Global Flat Steel Trade Log - Week 38, 2018

Global Flat Steel Trade Log - Week 38, 2018
Mining News Pro - Indian HRC export offers for Vietnam is learned around USD 575-580/CFR basis for Oct shipments against previous deal price of USD 580-585/MT
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According to Mining News Pro -  

Indian steel mills actively booking HRC for exports to Vietnam- Indian HRC export offers for Vietnam is learned around USD 575-580/CFR basis for Oct shipments against previous deal price of USD 580-585/MT, CFR. However no major deal at corrected price was reported. As per Vietnam based participants, bids being placed are still slow than current offers.

Indian HRC export deal to South Korea - This week, Essar Steel concluded a deal for around 20,000 MT HRC (2.5mm) to South Korean company Dongbu steel at USD 583-585/MT CFR basis which would come around USD 561-563/MT CFR basis for Oct-Nov shipments.

Around 20-25 rakes of HRC export to Nepal booked in last one month - Meanwhile two major eastern Indian mills have booked HRC (2mm, IS 10748) for export to Nepal in the range of USD 580-590/MT (ex-plant) basis which is coming around USD 602-603/MT landed Raxaul border basis for end October shipments. However another private mill booked same material at around USD 630/MT landed Raxaul border. Nearly 20-25 rakes of HRC for export were booked in last one month’s time for which dispatches are going on. Amid rake availability issues, no new bookings were reported.

Chinese HRC export offers weak over tepid demand-Chinese HRC export offers remain weak in line with falling HRC prices in domestic market. Bearish sentiments and sluggish demand results to falling prices of HRC in Chinese market.

Currently Chinese HRC export offers heard around USD 570-575/MT, FoB China. Payment made on letter of credit basis for 1,000-10,000 MT.Last week the offers was hovering in range of USD 580-585/MT FoB China.

Domestic prices down by RMB 10/MT on D-o-D basis. Prices of HRC in the domestic market are gauged at RMB 4,320-4,330/MT (ex-works) in Eastern China and RMB 4,230-4,250 /MT in (Northern China).

Vietnam - Imported HRC Offers Slide over weak buying interest
1.HRC (SAE 1006) 2-3mm / Chinese offer - Baosteel Steel is at USD 585/MT CFR Vietnam.

2.HRC (SAE 1006) 2-3mm / Chinese offer - Rizhao Steel Offer at USD 580/MT CFR basis.Last offers stood at USD 585/MT CFR basis.

3.HRC (SAE 1006) 2-3mm / Chinese offer - Angang Steel Offer at USD 575/MT CFR basis.

4.HRC (SAE 1006) 2-3mm / Russian offer - MMK Steel offer at USD 574/MT CFR basis.Last offers were at USD 578/MT, CFR

5.Vietnam domestic producer Formosa Ha Tinh Corporation announced fresh HRC prices this week at USD 600/MT CFR for Nov shipments which was USD 602/MT last month

CIS origin HRC prices decline further amid low demand from Turkish suppliers - CIS origin HRC export offers decline marginally this week owing to dull demand from Turkish suppliers.Thus being the major importers Russian mills are adjusting prices levels according to Turkish buyers.

Currently Chinese HRC export offers heard around USD 530-540/MT, FoB Black Sea. Last week the offers stood at USD 535-545/MT FoB Black Sea.

However major mills were offering on higher side which is around USD 540-550/MT FoB Black Sea.

Global Flat Steel Export Offers - Week 38,2018

Particulars

Currency

Prices

HRC,FoBChina

USD/MT

570-575

CRC,FoBChina

USD/MT

605-615

HRC,FoBBlackSea

USD/MT

530-540

CRC,FoBBlackSea

USD/MT

610-615

HRC,CFRVietnamfromChina

USD/MT

580-585

HRC,CFRVietnamfromIndia

USD/MT

575-580

HRC,CFRNepalfromIndia

USD/MT

602-630



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