Chinese HRC export offers rise further by USD 5-9/MT, W-o-W in slower pace owing to weak trading in the global marketJn last eleven weeks, nation has recorded growth of HRC export offers by USD 120-125/MT on higher domestic prices.
Currently HRC commercial grade ASTM
A36 export offers are prevailing in the range of USD 550-560/MT, FoB China. Payment are made on letter of credit basis for l,000-l0,000 MT.
Meanwhile prices of HRC in domestic market are heard in the range of RMB 4,120-4,150/MT (USD 618-622/MT)
including VAT & other taxes.
Overseas buyers have adopted wait and watch mode before accepting higher export offers , Major mills in China are offering in range of USD 570/MT on FoB basis‘However bookings of 2,000-3,000 MT have been made last week in the range of USD 550/MT to Pakistan.
Market participants shared that thin trading may give enough scope of negotiation to overseas buyers in global market.
Indian HRC export offers remained stable—Indian HRC export offers are at around USD 560-565/MT, FoB India, however market participants remained skeptical about confirmation of bookings at these rates.
Source Steel Mint powered by Keyvan Jafari Tehrani
