Tangshan Steel holds HGI export price firm
2020-07-29 08:02:31 [Print]
BEIJING (Asian Metal) 29 Jul 20 - As a branch of HBIS, Tangshan Iron and Steel Co., Ltd. (Tangshan Steel), the largest HGI producer in North China, announced to keep HGI export prices stable this Tuesday, a source from the company reported to Asian Metal.
"Currently our base price for HGI coil DX51D+Z120 1.0mm*1,250mm*C hovers at USD595/t FOB Tianjin, the same as one week ago," said the source from Tangshan Steel's export department, adding that the shipment would be arranged in the middle of September for the earliest. According to him, a customer wanted to purchase around 1,500t at USD590/t FOB Tianjin this Tuesday, but they refused. As he explains, HGI export prices from other countries like Vietnam moved up by around USD15/t in the past week. In addition, the demand in the international market showed some signs of recovering in the past two weeks. As a consequence, Tangshan Steel does not accept any counter bids at present and predicts HGI export prices would edge up by around USD5/t in the coming week.
Tangshan Steel has six HGI production lines with an annual production capacity of 2.4 million tons. The company exported around 700,000t of HGI in 2019 and about 300,000t so far this year. It estimates the export volume would achieve approximately 55,000t in July, similar to that in June.
"Currently our base price for HGI coil DX51D+Z120 1.0mm*1,250mm*C hovers at USD595/t FOB Tianjin, the same as one week ago," said the source from Tangshan Steel's export department, adding that the shipment would be arranged in the middle of September for the earliest. According to him, a customer wanted to purchase around 1,500t at USD590/t FOB Tianjin this Tuesday, but they refused. As he explains, HGI export prices from other countries like Vietnam moved up by around USD15/t in the past week. In addition, the demand in the international market showed some signs of recovering in the past two weeks. As a consequence, Tangshan Steel does not accept any counter bids at present and predicts HGI export prices would edge up by around USD5/t in the coming week.
Tangshan Steel has six HGI production lines with an annual production capacity of 2.4 million tons. The company exported around 700,000t of HGI in 2019 and about 300,000t so far this year. It estimates the export volume would achieve approximately 55,000t in July, similar to that in June.
