Global Flat Steel Market Overview - Week 37, 2018

According to Mining News Pro -Chinese HRC export offers firm despite subdued buying-Chinese HRC export offers remain firm despite lackluster demand prevailing in domestic and global market. Thus HRC export offers continue to remain firm in line with weakening prices in domestic market.

Currently Chinese HRC export offers heard around USD 575-580/MT, FoB China. Payment made on letter of credit basis for 1,000-10,000 MT.Last week the offers was hovering in range of USD 580-585/MT FoB China.

Domestic prices down by RMB 50-60/MT on D-o-D basis. Prices of HRC in the domestic market are gauged at RMB 4,350-4,360/MT (ex-works) in Eastern China and RMB 4,230-4,250 /MT in (Northern China) amid slowdown in automotive and household applicable sector in domestic market.

CIS origin HRC prices remain unchanged this week - CIS origin HRC export offers remain unchanged this week amid dull buying interest from overseas buyers.

Currently Chinese HRC export offers heard around USD 535-545/MT, FoB Black Sea. Last week the offers stood at similar range.

However major mills were offering on higher side which is around USD 545-550/MT FoB Black Sea. Also a major Russian mill is offering HRC to Vietnam in range of USD 585/MT CFR Vietnam.

Indian steel mills concluded HRC export deals in recent trades- Last week major Indian steel mill based in western region concluded a deal of 10,000-25,000 MT of HRC to Vietnam at around USD 585-590/MT CFR basis for Oct shipments. While offers from another major eastern India based mill stood at around USD 595/MT, CFR.

Meanwhile few other major mill concluded deals of HRC exports with Nepal in the range of USD 602-625/MT CFR basis for Oct shipments.

Global Flat Steel Export Offers - Week 37,2018