Chinese HRC export market inactive
2023-03-22 08:21:57 [Print]
BEIJING (Asian Metal) 22 Mar 23 - The HRC export market runs slowly amid overseas customers' low purchasing activities, but exporters refuse to mark down prices. Presently, the mainstream export prices of HRC SS400 3.0mm*1,500mm stand at USD670-690/t FOB China with shipment in May, similar to late last week. Insiders foresee stable export prices in the forthcoming several days in view of the slow export market but positive anticipation of exporters.
"The sudden price drop in the domestic market since the middle of last week heightened overseas clients' cautious attitudes. Actually, they kept inactive in purchasing even since early this month, complaining the quick price increases at that time," disclosed an exporter in East China. "A regular buyer required purchasing 2,000t at USD670/t when we quoted USD680/t on Tuesday, and we had to accept seeing the decreasing prices in the domestic market, and we just received one inquiry till now this week," added the exporter. According to him, the demand from most other countries remains relatively strong, but end users keep inactive in purchasing. Besides, the bank crisis weakened buyers' purchasing activities to some degree. Nevertheless, the exporter refuses to move down prices seeing the rising export prices from overseas pees and forecasts flat export prices in the coming several days.
Based on the regular monthly export volume of 23,000t, the exporter might export 20,000t in March, against 12,000t in February. The exporter estimates that the sales volume would reach 48,000t in the first quarter of 2023, against 270,000t in 2022. The exporter does not hold any stock right now.
"Overseas clients tend to hold back from purchasing seeing the price drop in the domestic market. Besides, most of them built enough materials in February and report low demand at the moment," confirmed another exporter in North China. "We did not receive any inquiries till now this week, and last closed a deal of 1,000t at around USD665/t two weeks ago," revealed the exporter. In the meantime, he disclosed that supported by orders from end users for fine steel in February, they remain not in a hurry to sell now and even stop offering. "We will refuse to sell HRC SS400 3.0mm*1,500mm at prices below USD670/t," added the exporter. He predicts stable export prices of HRC in the following several days seeing the watchful atmosphere in the market.
The exporter estimates that the export volume would reach 20,000t in March, down from 40,000t in February. He might export 80,000t in the first quarter of 2023, against 280,000t in 2022. The exporter does not hold any stock at present.
"The sudden price drop in the domestic market since the middle of last week heightened overseas clients' cautious attitudes. Actually, they kept inactive in purchasing even since early this month, complaining the quick price increases at that time," disclosed an exporter in East China. "A regular buyer required purchasing 2,000t at USD670/t when we quoted USD680/t on Tuesday, and we had to accept seeing the decreasing prices in the domestic market, and we just received one inquiry till now this week," added the exporter. According to him, the demand from most other countries remains relatively strong, but end users keep inactive in purchasing. Besides, the bank crisis weakened buyers' purchasing activities to some degree. Nevertheless, the exporter refuses to move down prices seeing the rising export prices from overseas pees and forecasts flat export prices in the coming several days.
Based on the regular monthly export volume of 23,000t, the exporter might export 20,000t in March, against 12,000t in February. The exporter estimates that the sales volume would reach 48,000t in the first quarter of 2023, against 270,000t in 2022. The exporter does not hold any stock right now.
"Overseas clients tend to hold back from purchasing seeing the price drop in the domestic market. Besides, most of them built enough materials in February and report low demand at the moment," confirmed another exporter in North China. "We did not receive any inquiries till now this week, and last closed a deal of 1,000t at around USD665/t two weeks ago," revealed the exporter. In the meantime, he disclosed that supported by orders from end users for fine steel in February, they remain not in a hurry to sell now and even stop offering. "We will refuse to sell HRC SS400 3.0mm*1,500mm at prices below USD670/t," added the exporter. He predicts stable export prices of HRC in the following several days seeing the watchful atmosphere in the market.
The exporter estimates that the export volume would reach 20,000t in March, down from 40,000t in February. He might export 80,000t in the first quarter of 2023, against 280,000t in 2022. The exporter does not hold any stock at present.
