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.
source: SteelMint
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Sierra Leone woos miners to clean energy with $11 billion plan
Alrosa plans production cuts and staff reduction for 2025
Chile’s rare salt flat fish face threat from lithium mining project
Endeavour Silver raises $73m for Pitarrilla project
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
