Early the week ended February 24, offers for HRC were at $535-545/mt CFR, CRC offers at $635-645/mt CFR, and HDG offers at $660-670/mt CFR, after discounts from previously attempted offers.
Offers are presently being heard for HRC at $530-545/mt CFR, CRC at $635-650/mt CFR, HDG at $665-675/mt CFR and heavy plate at $505-510/mt CFR. HRC has moved the bottom of the previous range by $5/mt, CRC widened the top of the previous range by $5/mt, and HDG offers moved up $5/mt.
According to sources, few Chinese offers for CRC and HDG are heard in the region at the moment. “Chinese traders reportedly have sufficient inventories, but they are probably withholding offers as export prices on flat finished steel products are expected to increase,” according to a source.