Prices for 0.35-1.7mm thick full hard CRC outside China were in free fall from Friday to Tuesday this week.An offer translates to 2,300 tonnes at $760/t cfr United Arab Emirates for July shipment.
Last week, Indian mills were quoted at $770/t cfr GCC for July consignments of a combination of 1.7-7.4mm thick SS400 and A36 grades.The same thickness SS400 grade outside China is being quoted at $750/t cfr GCC for August shipments.However, offers from Indian mills are negotiable.
This week, 2mm+ SPHT-1 HRC was offered at $815-820/t cfr outside Japan.Initial offers from Indian mills for SAE 1006 grade boron over 2mm are at $750/t cfr, but for firm and large volumes, Indian mills are expected to compromise.
“Since yesterday, SS400 and SAE 1006 HRC outside China have been offered to Vietnam at $660/t and $675/t cfr, respectively,” explained a prominent GCC source on Tuesday.“A drop of more than $50/t this week has led GCC buyers to target SAE 1006 HRC at $700-715/t cfr GCC.”
“With coking coal and iron ore prices falling sharply and costs lower, these prices are also viable for sellers,” he added.
In Saudi Arabia this week, it was reported that Taiwanese G90 hot-dip galvanized coil over 2.8mm thickness was quoted at $1,100/t for August/September shipments, while August shipments of the same material outside China were quoted at $1,010-1,020/t. Both cfr Dammam. In addition, 1.2mm SPHC grade HRC outside China is reported to be offered at $800/t cfr Dammam for August shipment.
“In addition to regular HRC exporters in our region, HRC producers from Australia, Kazakhstan and Brazil are also selling their material in the GCC market, which bodes well for buyers,” a said a stockist.”All buyers like to wait and see [how] the market [develops].”
Post time: Jul-05-2022