According to Mining News Pro -Chinese HRC export offers decline further over thin trades -This week Chinese HRC export offers move down further over thin trades in domestic and export market.
Currently HRC export offers from China was assessed around USD 555-565/MT FoB basis.However last week offers was assessed around USD 565-570/MT CFR basis.
However prices of HRC in the domestic market was at RMB 4,230-4,250/MT (ex-works) in Eastern China and RMB 4,120-4,130 /MT in (Northern China).
Meanwhile upcoming winter production cut in the month of November results to bearish sentiments in domestic market.
Imported HRC Offers to Vietnam inch down - Towards the beginning of the week imported HRC offers to Vietnam inch up from China.However thin trades leads to marginal decline in offers over low buying.
Current HRC trades to Vietnam
1.HRC (SAE 1006) 2-3mm / Chinese offer - Benxi is at USD 570/MT,CFR Vietnam. In the beginning of the week imported HRC offer stood at USD 575/MT CFR basis.
2.HRC (SAE 1006) 2-3mm / Chinese offer - Rizhao Steel Offer at USD 565/MT CFR basis. Last offers was at USD 570/MT CFR basis.
3.HRC (SAE 1006) 2-3mm / Indian offers- major Indian steel mils offering at USD 560-565MT CFR basis.
CIS origin HRC export offers soften further over weak demand-CIS-origin HRC export offers soften further in line with falling HRC export offers from China along with subdued demand in CIS markets.
Currently CIS origin HRC export offers heard around USD 515-540/MT, FoB Black Sea.Last week the offers stood at USD 525-540/MT FoB Black Sea.
However major mills were offering on higher side which is around USD 530-535/MT FoB Black Sea.
Global Flat Steel Export Offers - Week 42,2018
| Particulars | Currency | Prices |
| HRC,FoBChina | USD/MT | 555-565 |
| CRC,FoBChina | USD/MT | 595-605 |
| HRC,FoBBlackSea | USD/MT | 515-540 |
| CRC,FoBBlackSea | USD/MT | 595-610 |
| HRC,CFRVietnamfromChina | USD/MT | 565-570 |
| HRC,CFRVietnamfromIndia | USD/MT | 560-565 |
Source-SteelMint Research
