Chinese HRC exporters raise prices
2023-03-08 08:19:03 [Print]
BEIJING (Asian Metal) 8 Mar 23 - Supported by the positive anticipation and the appreciation of currency, domestic HRC exporters moved up prices since late last week
"We quote USD670/t with the discount of no more than USD5/t for HRC SS400 3.0mm*1,500mm this week, while could accept the price as low as USD655/t in the middle of last week," disclosed an exporter in East China . Attributing the price increase to the appreciation of CNY against U . S . dollars and the improving demand from overseas, the exporter disclosed that the currency dropped to 6 . 91-6 . 93 this week from around 6 . 99 of last week . "The demand from most other countries kept recovering since January, and end users send inquiries actively . We took around 5 inquiries these two days, while just 1 inquiry a day last December. We last sold 2,000t of the material at around USD655/t easily in the middle of last week," added the exporter . However, considering that the export market performance remains far from satisfactory and domestic market witnesses frequent price fluctuations, he deems export prices of HRC powerless to go up further and might keep firm in the coming several days.
Based on the typical monthly export volume of 10,000t, the exporter might export 6,000t in March, up from 5,000t in February. The exporter roughly exported 110,000t in 2022 and 160,000t in 2021, without any stock right now.
Another local exporter also lifted prices tentatively since late last week. Offering USD675/t for HRC SS400 3.0mm*1,500mm, he refuses to sell at prices below USD670/t at the moment . "Overseas buyers placed orders actively supported by the improving demand from downstream industries. We sold 300t of the material at USD670/t on Monday and last sold 6,000t easily at USD660/t in the middle of last week, while it took tough negotiations to conclude large orders in early February," noted the exporter . According to him, though prices in the domestic market fluctuate frequently, participants hold positive expectations for the market prospect . He forecasts firm export prices of HRC in the upcoming several days, believing it takes some time for overseas clients to accept the continuous price increases.
The exporter estimates that the sales volume would reach 20,000t in March, up from 12,000t in February. With the regular sales volume of 10,000tpm, he recorded the export volume of around 270,000t in 2022, similar to 2021 . The exporter does not hold any stock for the moment.
. Presently, the mainstream export prices of HRC SS400 3.0mm*1,500mm stand at USD665-680t FOB China with shipment in May, up by about USD10/t from the middle of last week . Insiders foresee firm export prices of HRC in the following several days seeing the less satisfactory export market performance.
"We quote USD670/t with the discount of no more than USD5/t for HRC SS400 3.0mm*1,500mm this week, while could accept the price as low as USD655/t in the middle of last week," disclosed an exporter in East China . Attributing the price increase to the appreciation of CNY against U . S . dollars and the improving demand from overseas, the exporter disclosed that the currency dropped to 6 . 91-6 . 93 this week from around 6 . 99 of last week . "The demand from most other countries kept recovering since January, and end users send inquiries actively . We took around 5 inquiries these two days, while just 1 inquiry a day last December. We last sold 2,000t of the material at around USD655/t easily in the middle of last week," added the exporter . However, considering that the export market performance remains far from satisfactory and domestic market witnesses frequent price fluctuations, he deems export prices of HRC powerless to go up further and might keep firm in the coming several days.
Based on the typical monthly export volume of 10,000t, the exporter might export 6,000t in March, up from 5,000t in February. The exporter roughly exported 110,000t in 2022 and 160,000t in 2021, without any stock right now.
Another local exporter also lifted prices tentatively since late last week. Offering USD675/t for HRC SS400 3.0mm*1,500mm, he refuses to sell at prices below USD670/t at the moment . "Overseas buyers placed orders actively supported by the improving demand from downstream industries. We sold 300t of the material at USD670/t on Monday and last sold 6,000t easily at USD660/t in the middle of last week, while it took tough negotiations to conclude large orders in early February," noted the exporter . According to him, though prices in the domestic market fluctuate frequently, participants hold positive expectations for the market prospect . He forecasts firm export prices of HRC in the upcoming several days, believing it takes some time for overseas clients to accept the continuous price increases.
The exporter estimates that the sales volume would reach 20,000t in March, up from 12,000t in February. With the regular sales volume of 10,000tpm, he recorded the export volume of around 270,000t in 2022, similar to 2021 . The exporter does not hold any stock for the moment.