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.