Indian Steel Mills Raise HRC Export Offers, Bookings Subdued
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Indian steel mills have further raised HRC export offers by USD 10/MT W-o-W. Currently Indian HRC export offers are assessed at USD 610/MT, FoB India against last week’s assessment of USD 590-600/MT, FoB India. However no bookings have been confirmed at such high offers. Market participants shared that small volumes were booked for export at previous week level of USD 590-600/MT, FoB.
China-HRC export offers rise marginally - Nation’s HRC export offers witnessed marginal rise after being strong for 15 weeks though the prices started to tumble in the domestic market.
Chinese HRC export offers rose sharply by USD 5/MT, W-o-W basis amid softening of prices in the nation’s domestic market. Chinese mills are reluctant to decline export offers and are focusing on higher gains in domestic market.
Currently HRC commercial grade ASTM A36 export offers are prevailing in the range of USD 585-600/MT, FoB China. Payment are made on letter of credit basis for 1,000-10,000 MT.
However prices of HRC in domestic market down by RMB 70-80/MT, W-o-W basis and are heard to be in the range of RMB 4,130-4,160/MT (USD 629-634/MT) including VAT & other taxes.
After Korean buyers made the bookings a deal of 2000-3000/MT have been concluded with African buyer in the range of USD 590-600/MT on FoB basis in the mid of last week.However after falling of domestic prices bids from South Korea reduced to USD 580/MT which is not accepted by major mills in China.
Japan HRC export offers rises on Increased global prices -
Japanese HRC export offers are heard in the range of USD 580-585/MT,FoB Japan which is gauged at USD 635-640/MT CFR Bangladesh. Bangladesh based importers mentioned that Japan’s Nippon Steel is actively seen giving export offers.
No firm HRC export offers were heard from from South Korea
CIS-Origin HRC Export Offers down by USD 15/MT,W-o-W basis -
CIS nations HRC export offers are prevailing in the range of USD 585-610/MT, FoB Black Sea against USD 600-610/MT on FoB basis.
Global Export Offers-Week 39
| Particulars | Currency | Prices | 1 Week ago |
| HRC, FoB China | USD/MT | 580-600 | 575-610 |
| CRC, FoB China | USD/MT | 615-620 | 610-615 |
| Chinese Domestic HRC, ex-works* | RMB/MT | 4,130-4,160 | 4,210-4,230 |
| Japanese HRC, CFR Bangladesh | USD/MT | 630-635 | - |
| HRC, FoB Black Sea | USD/MT | 585-610 | 600-610 |
| CRC, FoB Black Sea | USD/MT | 610-640 | 630-640 |
| HRC, FoB India | USD/MT | 610-620 | 590-600 |
| CRC, FoB India | USD/MT | 650 | 650-665 |
| HRC, ex-works Iran (2.5mm-15mm)* | USD/MT | 636 | 638 |
*including VAT
Source: SteelMint Research
