Prices for ex-India HRC have declined further by the end of this week as more offers for alloy HRC have started to emerge in the global market, SteelOrbis has learned.
An offer for ex-India alloy HRC to Vietnam has been reported at $770-780/mt CFR, which translates to $740/mt FOB at the highest. As Vietnam is buying ex-China boron-added coils, it may not be such a big problem for buyers to accept alloy HRC from India, sources have said. But in this case, prices should be in line with those from China, SteelOrbis has learned. At the moment, ex-China SAE1006 HRC has been offered at $760-770/mt CFR.
There was a rumour about a deal for 30,000 mt of ex-India HRC at slightly below $750/mt CFR Vietnam, but this information was not confirmed and, even if it were, this is not a direct sale from a mill, but a trader’s position, a number of sources told SteelOrbis.
Also, cheaper ex-India SAE1006 HRC with boron have been heard in Europe. An offer to Italy was reported at €800/mt CFR or $855/mt CFR, translating to around $750-770/mt FOB. The lower price could be connected with the fact that alloy-added steel is not very popular among European buyers as it has lower characteristics in further rolling. Non-alloy HRC from India should be at a higher level, still at around $900/mt CFR, according to sources.
As a result, the tradable level for ex-India HRC has been reduced to $740-800/mt FOB with the midpoint at $770/mt FOB, down by $25/mt from the level reported earlier this week and down $40/mt from last week.
