Chinese HRC suppliers have managed to increase export prices in deals to South America and Pakistan this week, while bid prices from some other customers, in Vietnam for instance, have remained lower.
The latest bookings from China have been reported at $505-515/mt FOB for SS400 HR coils, which is $5-10/mt above contracts last week. The higher end of the range corresponds to South America, sources have said.
The level of $510/mt FOB or slightly lower is reflecting the latest sales to Pakistan. The sales volumes have still not been very big – around 3,000-5,000 mt. “This week $525/mt CFR is the booking price,” a local source from Pakistan confirmed, which is $5/mt above the previous worlable level.
Chinese HRC is not in demand in Vietnam, where the latest dela for Indian SAE1006 HRC has been at $510/mt CFR.
