Chinese HGI coil export market sees weak demand
2023-04-13 18:34:15 [Print]
BEIJING (Asian Metal) 14 Apr 23 - Due to falling prices in domestic market, Chinese HGI coil export market ran slowly this week and overseas clients preferred to watch the market. The current mainstream export prices for HGI coil DX51D+Z 1.0mm*1,250mm*C with zero spangles hover at USD750-770/t FOB China, down by around USD5/t from one week ago. As the export market performed inactively due to rare deals from overseas buyers, insiders predict Chinese HGI coil export prices would fall further in the coming week.
An exporter in North China reported that he failed to conclude a deal so far this week, while he could close at least two deals in a week in late March. "We asked USD770/t FOB China for HGI coil DX51D+Z80 1.0mm*1,250mm*C with zero spangles this Thursday and could accept bids no less than USD760/t from regular clients," he said, adding that he asked USD770/t and refused to accept concessions one week ago but failed to close a deal, either. Seeing Chinese domestic market prices continued to weaken, he is of the opinion that HGI coil export prices would decline further in the coming week.
Reporting an export amount of almost 150,000t and 8,000t in 2022 and in the Q1 of this year, the company estimated the export volume would reach nearly 3,000t in April, down from 4,000t in March. It does not have stock at present.
An exporter in East China confirmed the weak demand from overseas buyers. He could get around three inquiries in one day and no deals concluded this week, while he could receive at least eight inquires per day and close around two deals in one week in late March. "On Thursday we quoted USD760/t FOB China for HGI coil DX51D+Z120 1.0mm*1,250mm*C with zero spangles and could provide a discount of no more than USD5/t for regular clients," he said, adding that he ever sold around 300t of the material at USD760/t one week ago. As prices in Chinese domestic market kept falling and overseas buyers delayed purchasing activities, he predicts HGI coil export prices would edge down further in the coming week.
The company witnessed an export volume of nearly 50,000t in 2022 and recorded an amount of roughly 6,000t in the Q1 of this year. It estimated the sales amount would reach almost 3,000t in April, similar to March. It has no stock currently.
An exporter in North China reported that he failed to conclude a deal so far this week, while he could close at least two deals in a week in late March. "We asked USD770/t FOB China for HGI coil DX51D+Z80 1.0mm*1,250mm*C with zero spangles this Thursday and could accept bids no less than USD760/t from regular clients," he said, adding that he asked USD770/t and refused to accept concessions one week ago but failed to close a deal, either. Seeing Chinese domestic market prices continued to weaken, he is of the opinion that HGI coil export prices would decline further in the coming week.
Reporting an export amount of almost 150,000t and 8,000t in 2022 and in the Q1 of this year, the company estimated the export volume would reach nearly 3,000t in April, down from 4,000t in March. It does not have stock at present.
An exporter in East China confirmed the weak demand from overseas buyers. He could get around three inquiries in one day and no deals concluded this week, while he could receive at least eight inquires per day and close around two deals in one week in late March. "On Thursday we quoted USD760/t FOB China for HGI coil DX51D+Z120 1.0mm*1,250mm*C with zero spangles and could provide a discount of no more than USD5/t for regular clients," he said, adding that he ever sold around 300t of the material at USD760/t one week ago. As prices in Chinese domestic market kept falling and overseas buyers delayed purchasing activities, he predicts HGI coil export prices would edge down further in the coming week.
The company witnessed an export volume of nearly 50,000t in 2022 and recorded an amount of roughly 6,000t in the Q1 of this year. It estimated the sales amount would reach almost 3,000t in April, similar to March. It has no stock currently.
