At the end of last week, the Chinese HRC price increased by 5-7 USD/t, above the 580-585/t CIF (Vietnam ports) range, with a total increase of 15-20 USD/t in the second half of June. However, as of Monday, counter-requests from Southeast Asia are said to have been received 10-12 USD/t lower than offers.
It is also known that some lots with shipments at the end of the month are below the range of 550-555 USD/t FOB (Chinese ports). It is not yet clear whether the summer months will be a turning point when the flat products market will return to its downtrend. However, experts believe that even today it cannot be ruled out that the growth potential has already been exhausted.
On the other hand, CRC export offers could not stay at the announced levels and there was a decrease in offers again.
CRC (0.9 mm, SPCC) has lost at least 10 USD/t since the second half of June, returning to 620 USD/MT FOB. It is also among the information received that some traders gave offers for shipments below 610-615 USD/t FOB at the beginning of August.
In an environment where the domestic market is not growing steadily and the devaluation is gaining momentum, it seems difficult for China's offers in dollars for foreign markets to rise.
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