Global HRC Market Overview - Week 9, 2019

Chinese HRC export offers inch up further - Chinese HRC export offers inch up further by USD 5-10/MT amid gains in domestic market.Meanwhile surge in futures can also be attributed for increased prices in export market.

Currently nation’s HRC export offers are assessed at around USD 520-525/MT FoB basis.Last week the offers was in range of USD 515-520/MT FoB basis.

Domestic prices in eastern China (Shanghai) up by RMB 10-20/MT and and are hovering at RMB 3,790-3,810/MT. Prices at Northern China up by RMB20 and stood at RMB 3,740-3,750/MT(Tangshan). Prices mentioned are Ex-factory including 17% taxes.

However major steel mills may increase HRC export offers further over recovery in demand in domestic and export market.

South Korean mills raises HRC export offers for India- As per market sources,South Korea have increased HRC export offers for India by USD 10/MT which is around USD 560-562/MT CFR basis for March shipments.

Imported HRC offers to Vietnam from China remain firm-This week imported HRC offers to Vietnam remained stable from China.

Currently imported offers of HRC to Vietnam from China is around USD 545-550/MT CFR basis.Towards the end of last week the offers for imported HRC to Vietnam from Chinese mills remained at similar levels.

Indian steel mills increases HRC export offers for Vietnam - Indian steelmakers have raised HRC export offers for Vietnam by USD 5-10/MT for March shipments.

Thus currently HRC export offers for Vietnam is assessed around USD 545-550/MT CFR Vietnam against last traded price of USD 540/MT, CFR Vietnam last week.

Few trade sources also shared that a private Indian steel mill recently booked around 20,000-25,000 MT of HRC at USD 545/MT CFR basis with Vietnam for March shipments.

CIS-origin HRC export offers stable this week- CIS origin HRC export offers remain stable this week after increasing from last two to three weeks.

Currently offers are in the range USD 520-530/MT FoB Black Sea.Last week CIS nations HRC export offers

Trading activity remains steady as buyers are expecting some discounts or correction in prices.

Meanwhile major steel producers in CIS will announce price revision in HRC exports offers next week for April shipments.