Chinese HGI coil export prices down
2023-04-20 08:22:13 [Print]
BEIJING (Asian Metal) 20 Apr 23 - Due to weakening demand from overseas clients, Chinese HGI coil export prices decline this week. The current mainstream export prices for HGI coil DX51D+Z 1.0mm*1,250mm*C with zero spangles hover at USD725-755/t FOB China, down by around USD10/t from late last week. Given exporters faced insufficient orders from overseas clients, insiders predict Chinese HGI coil export prices would go down further in the coming week.
An exporter in North China reported that he quoted USD730/t FOB China for HGI coil DX51D+Z80 1.0mm*1,250mm*C with zero spangles this Wednesday and could accept a concession no more than USD5/t. "I refused to accept bids below USD730/t one week ago and sold around 400t of the material at USD730/t then," he said, adding that he failed to close a deal and received totally six inquiries so far this week, while he got twelve inquiries last week. As prices remained on the decline in the international market and most exporters became hungry in taking orders, he is of the opinion HGI coil export prices would fall further in the coming week.
The company recorded an export amount of nearly 150,000t in 2022 and 40,000t in the Q1 of this year. It estimated the export amount would reach almost 10,000t in April, down from 13,000t in March. It does not hold stock at present.
An exporter in East China asked USD755/t FOB China without concession for HGI coil DX51D+Z140 1.0mm*1,250mm*C with zero spangles this Wednesday but failed to close a deal so far this week. "We asked USD780/t one week ago but finally sold around 800t of the material at USD770/t then," he reported, adding that five clients asked prices this week and none of them gave response. Seeing steel mills in China became a little bit more eager to take orders for June shipment after bad sales in recent two weeks, he deems HGI coil export prices would edge down by around USD10/t in the coming week.
Reporting an export amount of almost 50,000t in 2022, the company witnessed a sales volume of roughly 5,000t in the Q1 of this year. Its export amount is estimated to reach about 3,000t in April, down from 4,000t in March. It does not hold stock currently.
An exporter in North China reported that he quoted USD730/t FOB China for HGI coil DX51D+Z80 1.0mm*1,250mm*C with zero spangles this Wednesday and could accept a concession no more than USD5/t. "I refused to accept bids below USD730/t one week ago and sold around 400t of the material at USD730/t then," he said, adding that he failed to close a deal and received totally six inquiries so far this week, while he got twelve inquiries last week. As prices remained on the decline in the international market and most exporters became hungry in taking orders, he is of the opinion HGI coil export prices would fall further in the coming week.
The company recorded an export amount of nearly 150,000t in 2022 and 40,000t in the Q1 of this year. It estimated the export amount would reach almost 10,000t in April, down from 13,000t in March. It does not hold stock at present.
An exporter in East China asked USD755/t FOB China without concession for HGI coil DX51D+Z140 1.0mm*1,250mm*C with zero spangles this Wednesday but failed to close a deal so far this week. "We asked USD780/t one week ago but finally sold around 800t of the material at USD770/t then," he reported, adding that five clients asked prices this week and none of them gave response. Seeing steel mills in China became a little bit more eager to take orders for June shipment after bad sales in recent two weeks, he deems HGI coil export prices would edge down by around USD10/t in the coming week.
Reporting an export amount of almost 50,000t in 2022, the company witnessed a sales volume of roughly 5,000t in the Q1 of this year. Its export amount is estimated to reach about 3,000t in April, down from 4,000t in March. It does not hold stock currently.
