Chinese HRC exporters move down prices
2023-03-29 08:17:33 [Print]
BEIJING (Asian Metal) 29 Mar 23 - Discouraged by the poor sales performance, domestic HRC exporters decreased prices in succession this week. The current prevailing export prices of HRC SS400 3.0mm*1,500mm hover at USD660-680/t FOB China with shipment in May, down by USD10/t from late last week. Given the rebounding price signal in the domestic market, insiders foresee stable export prices of HRC in the forthcoming several days.
"We decreased the offer for HRC SS400 3.0mm*1,500mm to USD667/t with the concession of around USD5/t on Tuesday, while refused to sell at prices below USD680/t late last week," revealed an exporter in East China. Attributing the price decline to the slow market, the exporter disclosed that overseas clients endeavor to cut purchasing prices seeing the decreasing prices in the domestic market of China in the past 10 days. "Overseas clients send inquiries actively but give extremely low ideal purchasing prices. On Tuesday, we rejected an order of 500t of USD630/t," added the exporter, who last sold 1,000t at USD680/t early last week. The exporter shows little confidence in the market prospect seeing the low purchasing activities of overseas clients, but keeps reluctant to decrease prices further seeing prices in the domestic market show signs of rebounding and foresees flat export prices of HRC in the following several days.
The exporter might export 6,000t in March, up from 5,000t in February. With the regular monthly export volume of 10,000t, he would export 17,000t in the first quarter of 2023, against 110,000t or so in 2022. The exporter does not hold any stock for the moment.
"Discouraged by the price markdown of around RMB160/t (USD23/t) in the past one week in the domestic market, we moved down export prices of HRC since the middle of last week. Presently, we offer USD660/t without concession for HRC SS400 3.0mm*1,500mm, while insisted on USD670/t late last week," disclosed another exporter in Central China. In the meantime, the exporter reported a sluggish export market, and he just took 2 inquiries till now this week, while could receive 4 inquiries a day early this month. "We remain reluctant to sell seeing the narrowed profits, while overseas clients hold back from purchasing seeing the continuous price declines," added the exporter. Considering that prices in the domestic market showed signs of stopping decreasing, the exporter expects for narrowly stable export prices of HRC in the upcoming several days.
Based on the typical monthly export volume of 9,000t, the exporter estimates that the export volume would reach 8,000t in March, half of that in February. The exporter might export approximately 43,000t in the first quarter of 2023, against 104,000t more or less in 2022, holding no stock at present.
"We decreased the offer for HRC SS400 3.0mm*1,500mm to USD667/t with the concession of around USD5/t on Tuesday, while refused to sell at prices below USD680/t late last week," revealed an exporter in East China. Attributing the price decline to the slow market, the exporter disclosed that overseas clients endeavor to cut purchasing prices seeing the decreasing prices in the domestic market of China in the past 10 days. "Overseas clients send inquiries actively but give extremely low ideal purchasing prices. On Tuesday, we rejected an order of 500t of USD630/t," added the exporter, who last sold 1,000t at USD680/t early last week. The exporter shows little confidence in the market prospect seeing the low purchasing activities of overseas clients, but keeps reluctant to decrease prices further seeing prices in the domestic market show signs of rebounding and foresees flat export prices of HRC in the following several days.
The exporter might export 6,000t in March, up from 5,000t in February. With the regular monthly export volume of 10,000t, he would export 17,000t in the first quarter of 2023, against 110,000t or so in 2022. The exporter does not hold any stock for the moment.
"Discouraged by the price markdown of around RMB160/t (USD23/t) in the past one week in the domestic market, we moved down export prices of HRC since the middle of last week. Presently, we offer USD660/t without concession for HRC SS400 3.0mm*1,500mm, while insisted on USD670/t late last week," disclosed another exporter in Central China. In the meantime, the exporter reported a sluggish export market, and he just took 2 inquiries till now this week, while could receive 4 inquiries a day early this month. "We remain reluctant to sell seeing the narrowed profits, while overseas clients hold back from purchasing seeing the continuous price declines," added the exporter. Considering that prices in the domestic market showed signs of stopping decreasing, the exporter expects for narrowly stable export prices of HRC in the upcoming several days.
Based on the typical monthly export volume of 9,000t, the exporter estimates that the export volume would reach 8,000t in March, half of that in February. The exporter might export approximately 43,000t in the first quarter of 2023, against 104,000t more or less in 2022, holding no stock at present.
