Imported HRC Offers to Bangladesh Remain Firm Over Limited Bookings
This week imported HRC offers to Bangladesh remain unchanged from China. Currently imported HRC (1.6-2mm) offers from China’s major mills are heard in range of USD 575-580/MT CFR Chittagong.
Chinese HRC export offers have continued to remain strong and offers are constantly showing uptrend over recovery in demand and optimistic sentiments prevailing in domestic market. Importers based in Bangladesh shared that Chinese based major steel mills are offering HRC at around USD 535-540/MT FoB basis.
Meanwhile Taiwan steel mills are also offering HRC on higher side which is around HRC (1.6 mm) at around USD 587/MT CFR Chittgong.
Market participants based in Bangladesh shared that,”Imported HRC offers continued to remain on higher side. However Bangladesh based HRC importers had made significant bookings in month of Nov-Dec’18 when Chinese HRC export offers was on downside, owing to which significant bookings in last couple of weeks was not seen.”
Bangladesh Bulk Import Data for Feb’19- As per provisional data maintained with SteelMint, Bangladesh bulk vessel imports in Feb’19 stood at 44,740 MT in Feb’19 inched down by 2% against 46,260 MT in Jan’19.
source: SteelMint
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