Bangladesh Steel Mills Eye for Lower HRC Offers from China

SteelMint learned from market sources that Bangladesh based mills are actively placing bids for Chinese HRC however bids continue to remain on lower side than present offers.

This week imported HRC offers inch down by USD 5/MT.As per assessment,imported HRC offers ( 1.8 - 2 mm) to Bangladesh from China is assessed around USD 640/MT CFR Chittagong.Last week HRC offers from major mills was hovering at USD 645/MT CFR basis.

Meanwhile HRC importers based in Bangladesh are bidding offers on lower side which is in range of USD 630-635/MT CFR basis.

Market participants shared that ,"Major steel mills in Bangladesh are in negotiation with Chinese mills to book HRC in near term”.

Meanwhile few other market sources shared that,market sentiments in Bangladesh may remain dull next week amid upcoming festive holidays of Eid-Al-Adha which is scheduled on 22nd and 23rd of August.

HRC offers from Japanese mills remain on higher side -Japanese mills are offering imported HRC to Bangladesh on higher side which is around USD 660/MT CFR basis.Thus importers are preferring imported material from China over economical prices.