Chinese HRP offer for SE Asia

For export from China to Southeast Asia, 1,500 mt of CCSB grade 6-12 mm x 1,800 mm x 8,000 mm hot rolled plates have been offered at $600-610/mt FOB, while 1,000 mt of CCSB grade 12-16 mm x 1,800 mm x 8,000 mm hot rolled plates have been offered at $570-580/mt FOB, both on theoretical weight basis via at sight payment by letter of credit for April shipment. CCSB grade is used for shipbuilding purposes. SteelOrbis has learned that there is a shortage for hot rolled plates in the China market, due to the fact that Chinese steel mills have already accepted many orders from their foreign buyers during the past several weeks. Thus domestic supply is limited, which will result in an upward price trend in both the international and domestic markets in the near future. However, SteelOrbis has been informed that the potential buyer in this case is waiting to see the future market trend and so is reluctant to accept such a price at present.