Chinese HRC export market dim
2023-04-05 08:53:10 [Print]
BEIJING (Asian Metal) 5 Apr 23 - The demand from overseas clients shrinks gradually, and the HRC export market in China runs slowly this week. Presently, the mainstream export prices of HRC SS400 3.0mm*1,500mm stand at USD650-670/t FOB China with shipment in June, down by USD10/t from late last week. Insiders foresee further price decline in the coming several days in view of the dim market.
"The export market calmed down gradually since Mid-March. We just received one inquiry so far this week, and the client refused to give the ideal purchasing prices after getting our offers. We last sold 300t at USD660/t early last week," disclosed an exporter in North China, quoting USD650/t for HRC SS400 3.0mm*1,500mm. "Prices of HRC witnessed the markdown of around RMB100/t (USD15/t) in the domestic market on Monday and Tuesday, and kinds of holidays overseas made the demand shrink further," added the exporter. Given the sluggish demand from overseas, he worries export prices of HRC would decline further in the coming several days. "Clients may have interest in purchasing at USD640-645/t," added the exporter.
Based on the regular monthly export volume of 25,000t, the exporter would export 15,000t in April, down from 20,000t in March. He roughly exported 80,000t in the first quarter of 2023, against 280,000t in 2022. The exporter holds no stock right now.
"Overseas clients tend to hold back from purchasing dragged by the soft demand locally and the decreasing prices in China. Some clients even sold materials with the loss of USD10-20/t to withdraw capitals. Besides, the Ramadan in Middle East and Easter in Europe make the demand shrink further," disclosed another exporter in East China. "We found it impossible to develop new customers as most of them remain cautious about purchasing," added the exporter, who sold 1,000t to a regular client purchasing every two months at USD660/t early last week. Quoting USD650/t for HRC SS400 3.0mm*1,500mm, the exporter does not close any deals till now this week, and rejected an order of 500t with the buyer's ideal purchasing price around USD30/t lower than his offers. Upon the soft demand, the exporter predicts another price decline of HRC in the forthcoming several days.
The exporter might only export 10,000t in April, half of that in March. With the typical monthly export volume of 23,000t, he recorded the total export volume of around 48,000t in the first quarter of 2023, against 270,000t more or less in 2022. He does not hold any stock at the moment.
"The export market calmed down gradually since Mid-March. We just received one inquiry so far this week, and the client refused to give the ideal purchasing prices after getting our offers. We last sold 300t at USD660/t early last week," disclosed an exporter in North China, quoting USD650/t for HRC SS400 3.0mm*1,500mm. "Prices of HRC witnessed the markdown of around RMB100/t (USD15/t) in the domestic market on Monday and Tuesday, and kinds of holidays overseas made the demand shrink further," added the exporter. Given the sluggish demand from overseas, he worries export prices of HRC would decline further in the coming several days. "Clients may have interest in purchasing at USD640-645/t," added the exporter.
Based on the regular monthly export volume of 25,000t, the exporter would export 15,000t in April, down from 20,000t in March. He roughly exported 80,000t in the first quarter of 2023, against 280,000t in 2022. The exporter holds no stock right now.
"Overseas clients tend to hold back from purchasing dragged by the soft demand locally and the decreasing prices in China. Some clients even sold materials with the loss of USD10-20/t to withdraw capitals. Besides, the Ramadan in Middle East and Easter in Europe make the demand shrink further," disclosed another exporter in East China. "We found it impossible to develop new customers as most of them remain cautious about purchasing," added the exporter, who sold 1,000t to a regular client purchasing every two months at USD660/t early last week. Quoting USD650/t for HRC SS400 3.0mm*1,500mm, the exporter does not close any deals till now this week, and rejected an order of 500t with the buyer's ideal purchasing price around USD30/t lower than his offers. Upon the soft demand, the exporter predicts another price decline of HRC in the forthcoming several days.
The exporter might only export 10,000t in April, half of that in March. With the typical monthly export volume of 23,000t, he recorded the total export volume of around 48,000t in the first quarter of 2023, against 270,000t more or less in 2022. He does not hold any stock at the moment.
