Global HRC Market Overview - Week 52, 2018

Chinese HRC export offers remain firm: Chinese HRC export offers continued to remain firm this week. Meanwhile domestic HRC prices continue to remain volatile over weak buying. Also amid approaching New Year holidays, trades are likely to remain on lower side.

Currently HRC export offers from China is assessed around USD 480-485/MT FoB basis.

Meanwhile prices of HRC in the domestic market fell further by RMB 20/MT on D-o-D basis and presently domestic HRC is assessed around at RMB 3,700-3,730/MT (ex-works) in Eastern China.

Imported HRC offers to Vietnam slide further- Imported HRC offers dipped further over thin trades.

Current trades of HRC to Vietnam - Week 52
1.HRC (SAE 1006) 2-3mm / Chinese offer- Rizhao Steel is at USD 480/MT CFR Vietnam.In the beginning of the week the offers is at USD 490/MT CFR Vietnam.

2.HRC (SAE 1006) 2-3mm / Chinese offer - Wisco Steel is at USD 495/MT CFR Vietnam.

3.HRC (SAE 1006) 2-3mm / Indian offer - Indian steel mills is offering at USD 480-490/MT CFR Vietnam.

4. Indian mill based in eastern region concluded deal of around 10,000-20,000 MT of HRC with Vietnam at USD 480/MT CFR basis for January shipments.

Indian steel mills explore export options to other nations- Market sources shared with SteelMint that major Indian steel manufacturers have started exploring Middle East markets amid weak buying interest from SE Asian nations.

Major Indian steel manufacturer based in western region was heard to be in talks to book HRC for export to Middle East at around USD 500/MT CFR basis for January shipments and few sources confirmed booking of 25,000 MT HRC.

Thus lower realizations in domestic market compels Indian steel mills to export HRC to overseas nations.

Absence of imported HRC offers to Bangladesh from China- Amid General assembly elections scheduled towrads the end of this month importers based in Bangladesh have lowered their buying.Currently no active offers for imported HRC from China.

Last offers for imported HRC to Bangladesh from China is around USD 525-530/MT CFR basis.

Global Flat Steel Export Offers - Week 52, 2018

Source- SteelMint Research