Bangladesh Mills Book HRC from China for January Shipments
Following steep decline in Chinese HRC export offers, Bangladesh mills turned active in booking HRC.
Few market sources shared that in beginning of the week Bangladesh based mills have booked around 15,000 MT HRC at around USD 520/MT CFR basis for January shipments.
This week imported HRC offers to Bangladesh from China remained firm although today domestic HRC prices in China inched up. Meanwhile currently Chinese mills are offering HRC exports around USD 475-480/MT FoB basis.
Currently imported HRC (2mm) offers to Bangladesh is assessed around USD 520-530/MT CFR Chittagong for January shipments. Last week’s prices assessment was at around USD 525/MT CFR Chittagong.
Also few trades sources shared that Russian based MMK steel is offering imported HRC at around USD 515/MT CFR basis.
Currently no active offers from Japan and South Korea for January shipments.
A major HRC importer based in Bangladesh shared that,”Bangladesh based mills are hesitant to book the material as they are waiting for clarity in Chinese steel prices”.
Bangladesh Bulk Steel Coil Imports Decline in Nov’18 - As per provisional data maintained with SteelMint,Bangladesh bulk vessel imports in Nov’18 stood at 46,420 MT in Nov’18 decline by 40% against 77,873 MT in Oct’18.
source: SteelMint
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