Global HRC Trade Market Overview - Week 23, 2019
Chinese HRC export offers weigh down further over falling domestic prices- Chinese HRC export offers decline further this week owing to falling steel prices in domestic market.
Bearish market sentiments among buyers and lackluster demand results to weak buying and softening HRC prices both in domestic and export market.
Thus currently nation’s HRC export offer declined by USD 5-10/MT and was assessed at around USD 500-505/MT FoB basis. Last week the offers stood at USD 505-510/MT FoB basis.
Domestic HRC prices in China fell by RMB 20-30/MT and is hovering at RMB 3,880- 3,890/MT D-o-D basis in eastern China (Shanghai).
And prices at Northern China fell by RMB 20-30/MT and stood at RMB 3,800-3,820/MT in Northern China (Tangshan).
Imported HRC Offers to Vietnam continued to remain on lower- Imported HRC offers to Vietnam slump further over dull trades and higher inventory levels among end users.
Current HRC trades to Vietnam - Week 23, 2019
1. HRC (SAE 1006) 2-3mm/Chinese offer- Bao Steel is at USD 510/MT CFR Vietnam.
2. HRC (SAE 1006) 2-3mm/Chinese offer- Laiwu Steel is at USD 500/MT CFR Vietnam. Last week offers were around USD 505/MT CFR basis.
3. HRC (SAE 1006) 2-3mm/Chinese offer- Xinyu Steel is at USD 502/MT.
4. HRC (SAE 1006) 2-3mm/Chinese offer- Shagang Steel is at USD 502/MT.
5. HRC (SAE 1006) 2-3mm/Japanese offer- Nippon Steel is at USD 535/MT.
6.HRC (SAE 1006) 2-3mm/Japanese offer- Kobe Steel is at USD 510/MT. Confirmed trade deal heard of around 10,000 MT of HRC with Kobe steel at USD 510/MT CFR for July shipments.
CIS- origin HRC export offers remain mute ahead of holidays- This week CIS HRC export offers firm. Thus currently CIS- origin HRC export offers stood in range of USD 475-490/MT FoB Black Sea. In previous week offers were at 470-490/MT CFR Black Sea.
Market remains lull as end users in CIS nations ahead of festive season and will resume back after one week of holidays.
source: SteelMint
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