Global Flat Steel Market Overview - Week 14, 2019
Chinese HRC export offers inch down this week- Chinese HRC export offers inched down this week amid weakening prices in domestic market.
Currently nation’s HRC export offers is assessed at around USD 528-530/MT FoB basis. Last week the prices stood at USD 535-540/MT FoB basis.
Meanwhile prices in domestic market move down by RMB 20/MT D-o-D basis.Domestic prices in eastern China (Shanghai) stood at RMB 3,830-3,850/MT. Meanwhile prices at Northern China stood at RMB 3,770-3,790/MT D-o-D basis in Northern China (Tangshan).
CIS-origin HRC export offer move down slightly- This week CIS nation’s HRC export offers move down by USD 5-10/MT amid soften market sentiments and increased availability of material among mills in CIS regions.
Currently offers are in the range USD 500-515/MT FoB Black Sea. Last week CIS nation's HRC export offers stood at USD 510-515/MT FoB basis.
Indian steel mills hold HRC export offers- Market sources shared that major Indian steel mills are currently holding HRC export offers since end users are eyeing for lower HRC offers in Vietnam.
However last week Indian steel mills lowered their HRC export offers to Vietnam by USD 5-10/MT. Offers stood around USD 545-550/ MT CFR Vietnam.
Imported HRC offers to Vietnam down amid softening demand- Imported HRC offers to Vietnam inch down this week by USD 5/MT amid soften buying.End users are not in urgent need of material and weak buying continues to prevail in the market.
Current HRC Trade offers to Vietnam - Week 14, 2019
1. HRC (SAE 1006) 2-3mm/Chinese offer - Baosteel Iron & Steel is at USD 549/MT CFR Vietnam.
2. HRC (SAE 1006) 2-3mm/Chinese offer - Laiwu Steel is at USD 543/MT CFR Vietnam.
3. HRC (SAE 1006) 2-3mm/Indian offer - JSW Steel is at USD 546/MT CFR Vietnam.
Japanese and Korean mills increase HRC export offers by USD 15/MT - Japanese based major steel mills have raised HRC offers to around USD 580-590/MT CFR India for May shipments against their last offers of USD 570-580/MT, CFR India. Meanwhile Korean steel mills are also planning to raise HRC export offers for May shipments.The revised indicative offers from major steel mill is assessed around USD 585/MT CFR basis for May shipments.
source: SteelMint
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