Chinese HRC export offers continues to rise further and have reached to the peak levels of USD 545-550/MT, FoB. Since Chinese domestic prices have gained the momentum driving up HRC export offers in the global market. Nation has surged the HRC export offers by USD 115-116/MT in last 70 days on higher domestic prices.
Currently HRC commercial grade ASTM A36 export offers are prevailing in the range of USD 545-551/MT, FoB China. Payment are made on letter of Credit basis for 1,000-10,000 MT.
Meanwhile prices of HRC in domestic market have rebounded today after yesterday’s decrease and are heard in the range of RMB 3,980-4,010/MT, including VAT. & Other taxes.
Overseas buyers resist buying since major mills in China are also offering in the range of USD 560/MT on FoB basis. However it is anticipated that export offers will stabilize since the profit margins are on higher side in domestic market.
CIS Nation raised HRC export offers by USD 25/MT CIS- origin have also raised the HRC export offers by USD 25/MT,W-O-W basis on rising Chinese steel prices in global market. Currently HRC export offers are heard in the range of USD 550-560/MT, FoB Black Sea.
Source Steel Mint powered by Keyvan Jafari Tehrani
