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HRC export prices to Middle East & South America steady for Oct.

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Publish time: 24th September, 2012      Source: ChinaCCM
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The export prices of carbon steel hot rolled coil (HRC) from China to Middle East and South America for October have released around US$530~US$560/ton CFR. On the other hand, the export prices from South Korea, Brazil and Russia to the same regions are nearly US$560~US$580/ton CFR.

In Europe, the domestic price of HRC is around €500/ton, much higher than other regions such as Middle East. As a result, European mills have not yet offered their prices to overseas. Additionally, the local price of HRC in US drops by US$15/ton to around US$715/ton lately owing to tumbling prices on scrap and low-price steel sources.

It is expected that the export prices of HRC for November would be released recently no matter to Middle East or South America. In Middle East, the demand for HRC on infrastructure projects will be released after Ramadan.

Similarly, the peak season of Christmas in South America is oncoming. Most mills in Asia are going to hike their export prices for November unless Chinese mills damp down their prices for snatching more orders.