During the week ending September 12, export offer prices of hot rolled coil (HRC) from China have moved sideways compared to previous week.
At present, export offers for boron-added SS400 hot rolled coil (HRC) given by Chinese mills are at $465/mt FOB. “The India-origin HRC has been more competitive,” an international trader told SteelOrbis, “thus China-origin HRC resources not welcomed in the export market.” Indian mills have managed to sign a number of deals for SAE1006 HRC at $455-457/mt CFR Vietnam recently.
At the same time, the uptrend in the Chinese domestic market has slowed down due to moderate demand. Local average HRC prices have decreased by RMB 5/mt ($0.7/mt) today, compared to September 5, reaching RMB 3,690-3,790/mt ($521-535/mt) ex-warehouse, according to SteelOrbis’ data.
$1 = RMB 7.08