Global HRC Market Overview - Week 12, 2019
Chinese HRC export offers inch up following strengthening domestic market - Nation’s HRC export offers continue to move in upward direction following increase in domestic prices.
Robust buying in domestic market after reduction in VAT rates from 16% to 13% led to surge in steel prices from China.
Currently nation’s HRC export offers are assessed at around USD 537-540/MT FoB basis.However in the beginning of the week HRC export offers stood around USD 535-540/MT FoB China.
Domestic prices in eastern China (Shanghai) moved up by RMB 60-70/MT D-o-D basis and stood at RMB 3,860-3,870/MT.
Meanwhile prices at Northern China up by RMB 60/MT and stood at RMB 3,810-3,830/MT D-o-D basis in Northern China (Tangshan).
CIS-origin HRC export offers move up this week - This week CIS nation’s HRC export offers moved up over low availability.
Currently offers are in the range USD 510-520/MT FoB Black Sea. Last week CIS nation's HRC export offers stood at USD 500-520/MT FoB basis.
Indian mills hold HRC export offers firm- Indian steel mill booked HRC to Malaysia for April shipments. SteelMint learned from market sources that major Indian steelmaker concluded a deal of 10,000 MT of HRC with Malaysia at USD 560/MT CFR basis for April shipments.
Meanwhile Indian steel mills have resumed offers for export to SE Asian markets. Offers from major Indian mills are heard at around USD 560-565/MT CFR Vietnam for April shipments. No fresh offers to Nepal market were heard this week.
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
