Imported HRC Offers to Bangladesh Increase Following Hike in Offers from China
SteelMint in conversation with market participants learned that Imported HRC offers to Bangladesh reported surge by around USD 15-20/MT from China.
Currently imported HRC (1.8-2mm) HRC offers are hovering at USD 590/MT CFR Chittagong for April shipments. However couple of weeks back the offers were in range of USD 570-580/MT CFR basis.
Chinese steel mills are constantly raising HRC export offers amid improved buying and increased prices in domestic market. Thus Chinese HRC export offers is assessed around USD 540-550/MT FoB China.
However Bangladesh based mills have concluded few deals with Taiwan and Japan for April shipments amid higher offers from Chinese mills.
Market participants reported that a major steel maker based in Bangladesh booked around 25,000 MT HRC last week from Japan at around USD 560/MT CFR Chittagong.
Meanwhile the same importer also booked around 10,000 MT of HRC last week with Taiwan at around USD 570-580/MT CFR Chittagong.
Bangladesh bulk HRC 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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