Chinese HGI coil export prices up
2023-03-16 08:27:22 [Print]
BEIJING (Asian Metal) 16 Mar 23 - Supported by the appreciation of Chinese yuan and higher prices in domestic market, Chinese HGI coil export prices went up slightly this week. The current mainstream export prices for HGI coil DX51D+Z 1.0mm*1,250mm*C with zero spangles hover at USD770-810/t FOB China, up by around USD10/t from one week ago. As the export market cooled down due to weak demand from overseas clients, insiders predict Chinese HGI coil export prices would stay flat in the coming week.
An exporter in North China asked USD780/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 USD10/t for regular clients, but failed to conclude deals so far this week. "I last sold around 500t of the material at USD760/t one week ago," he said, adding that overseas clients showed resistance for the price rise. He received three inquiries so far this week, while he totally got around ten last week. As the market calmed down but steel mills showed positive expectation for the coming market, he predicts that HGI coil export prices would keep stable in the coming week.
The company, with an export amount of nearly 150,000t of HGI coil in 2022, exported about 4,000t of the material in the first two months of this year. It estimated the export amount would reach almost 2,000t in March, down from 3,000t in February. It holds no stock at present.
An exporter in East China quoted USD810/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. "We ever sold around 800t of the material at USD805/t one week ago to a regular client," he said, adding that most overseas clients did not want to take high risks to place orders after prices went up by around USD20/t in recent two week as their demand did not grow at all. Upon firm cost but weakening market performance, he predicts HGI coil export prices would level off in the coming week.
With an export amount of roughly 50,000t in 2022, the company recorded an export volume of nearly 3,000t in the first two months of this year. It estimated the export volume would reach roughly 2,000t in March, similar to February.
An exporter in North China asked USD780/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 USD10/t for regular clients, but failed to conclude deals so far this week. "I last sold around 500t of the material at USD760/t one week ago," he said, adding that overseas clients showed resistance for the price rise. He received three inquiries so far this week, while he totally got around ten last week. As the market calmed down but steel mills showed positive expectation for the coming market, he predicts that HGI coil export prices would keep stable in the coming week.
The company, with an export amount of nearly 150,000t of HGI coil in 2022, exported about 4,000t of the material in the first two months of this year. It estimated the export amount would reach almost 2,000t in March, down from 3,000t in February. It holds no stock at present.
An exporter in East China quoted USD810/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. "We ever sold around 800t of the material at USD805/t one week ago to a regular client," he said, adding that most overseas clients did not want to take high risks to place orders after prices went up by around USD20/t in recent two week as their demand did not grow at all. Upon firm cost but weakening market performance, he predicts HGI coil export prices would level off in the coming week.
With an export amount of roughly 50,000t in 2022, the company recorded an export volume of nearly 3,000t in the first two months of this year. It estimated the export volume would reach roughly 2,000t in March, similar to February.
