Chinese HGI coil export market sees rare deals
2023-03-30 07:47:43 [Print]
BEIJING (Asian Metal) 30 Mar 23 - Discouraged by wait-and-see attitudes from overseas clients and lower offers from exporters in China, Chinese HGI coil export market witnessed scarce deals this week. The current mainstream export prices for HGI coil DX51D+Z 1.0mm*1,250mm*C with zero spangles hover at USD760-780/t FOB China, down by around USD10/t from late last week. As the export market ran slowly but prices in domestic market rebounded slightly, insiders predict Chinese HGI coil export prices would keep stable in the coming week.
An exporter in East China stated that he could get no more than four inquiries in one day this week, while he got around nine inquiries per day last week. According to him, overseas clients preferred to watch the market cautiously seeing the softened market performance in Chinese domestic market. "We asked USD780/t FOB China for HGI coil DX51D+Z120 1.0mm*1,250mm*C with zero spangles this Wednesday and could accept a concession no more than USD10/t for firm bids," he said, adding that he did not close a deal so far this week and last sold about 1,000t of the material at USD780/t last Friday. Upon firm cost but reduced buying activities from overseas clients, he deems HGI coil export prices would level off in the coming week.
The company's sales volume is estimated to reach nearly 3,000t in March, in line with February. It recorded a trading amount of almost 55,000t in 2022, down from 70,000t in 2021. It holds no stock at present.
Another exporter in East China revealed that he did not close a deal this week and overseas clients even did not give counter-bids after getting offers, while he made two deals last week. On Wednesday he quoted USD810/t FOB China for HGI coil DX51D+Z140 1.0mm*1,250mm*C with zero spangles and refused bids lower than USD805/t. "We last sold around 600t of the material at USD815/t late last week," he reported. As prices in Chinese domestic market rebounded this week while overseas clients became more cautious in placing orders, he thinks HGI coil export prices would stay flat in the coming week.
Reporting an export amount of almost 50,000t in 2022, the company sees a sales volume of about 5,000t so far this year. It estimated the export volume would reach nearly 2,500t in March, up from 2,000t in February. It has no stock at present.
An exporter in East China stated that he could get no more than four inquiries in one day this week, while he got around nine inquiries per day last week. According to him, overseas clients preferred to watch the market cautiously seeing the softened market performance in Chinese domestic market. "We asked USD780/t FOB China for HGI coil DX51D+Z120 1.0mm*1,250mm*C with zero spangles this Wednesday and could accept a concession no more than USD10/t for firm bids," he said, adding that he did not close a deal so far this week and last sold about 1,000t of the material at USD780/t last Friday. Upon firm cost but reduced buying activities from overseas clients, he deems HGI coil export prices would level off in the coming week.
The company's sales volume is estimated to reach nearly 3,000t in March, in line with February. It recorded a trading amount of almost 55,000t in 2022, down from 70,000t in 2021. It holds no stock at present.
Another exporter in East China revealed that he did not close a deal this week and overseas clients even did not give counter-bids after getting offers, while he made two deals last week. On Wednesday he quoted USD810/t FOB China for HGI coil DX51D+Z140 1.0mm*1,250mm*C with zero spangles and refused bids lower than USD805/t. "We last sold around 600t of the material at USD815/t late last week," he reported. As prices in Chinese domestic market rebounded this week while overseas clients became more cautious in placing orders, he thinks HGI coil export prices would stay flat in the coming week.
Reporting an export amount of almost 50,000t in 2022, the company sees a sales volume of about 5,000t so far this year. It estimated the export volume would reach nearly 2,500t in March, up from 2,000t in February. It has no stock at present.
