Global HRC Market Overview - Week 40,2018
Mining News Pro - This week global flat steel market has remained majorly stable amid absence of Chinese offers amid Golden Week holidays.
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According to Mining News Pro -This week global flat steel market has remained majorly stable amid absence of Chinese offers amid Golden Week holidays. Indian mills remained focused in domestic market after recent price hike announced for October. Limited offers were heard from Japanese & Korean mills. A Bangladesh based mill was heard to have booked decent quantities from Taiwan and Russia a couple of weeks back.

Imported HRC Offers to Vietnam remain on lower side - This week imported HRC offer to Vietnam continued to remain bearish amid week long holidays in China on the occasion of country’s national day.

1.HRC (SAE 1006) 2 3mm / Japanese offer - JFE Steel offer at USD 600/MT CFR basis.

2.HRC (SAE 1006) 2-3mm / Korean offer - Hyundai Steel offer at USD 600/MT CFR basis.

3.HRC (SAE 1006) 2-3mm / Indian offer - major steel mill offer at USD 568/MT CFR basis.

4.Last offers for HRC (SAE 1006) 2-3mm from mills in China was at USD 565-575/MT CFR Vietnam.

CIS origin HRC export offers slip further bleak demand-CIS-origin HRC export offers fell further over weakening demand in domestic as well as export market.

Currently CIS origin HRC export offers heard around USD 525-540/MT, FoB Black Sea. Last week the offers stood at USD 530-540/MT FoB Black Sea.

However major mills were offering on higher side which is around USD 530-535/MT FoB Black Sea.However few other major mills are offering HRC at around USD 540-545/MT FoB basis.

Absence of Chinese HRC export offers amid holidays-This week Chinese steel mills are on week long holiday to mark country’s Golden Week, thus no active offers of HRC from China were reported.

Last offers of HRC from China was assessed around USD 565-570/MT FoB basis.However major mills are offering slightly on higher side which is around USD 580-590/MT CFR basis.

Before holidays, prices of HRC in the domestic market was at RMB 4,380-4,300/MT (ex-works) in Eastern China and RMB 4,190-4,200 /MT in (Northern China).

Imported HRC offers to Bangladesh decline this week- Market sources shared few weeks back major steel importer based in Bangladesh booked around 105,000 MT of HRC from different origins for November shipments at an average price of USD 605-610/MT CFR basis.

Major steel importer has booked HRC from Taiwan at USD 605/MT CFR and also from Russia at USD 600-610/MT CFR basis.

Prior to this,as per last assessment imported HRC offers to Bangladesh from Taiwan and Russia was hovering at USD 620/MT CFR basis.

Global Flat Steel Export Offers - Week 40,2018

Particulars

Currency

Prices

HRC,FoBChina

USD/MT

560-565

CRC,FoBChina

USD/MT

600-615

HRC,FoBBlackSea

USD/MT

525-540

CRC,FoBBlackSea

USD/MT

590-610

HRC,CFRVietnamfromChina

USD/MT

560-565

HRC,CFRVietnamfromIndia

USD/MT

568

HRC,CFRVietnamfromJapan&Korea

USD/MT

600

HRC,CFRBangladeshfromTaiwan&Russia

USD/MT

600-610


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