Posco Maharashtra increases CRC export offers by $15-20/MT

CRC export sales from India during the period Jan-Oct 2016 surged by around 53%.

The Dollar Business Bureau

Posco Maharashtra, a leading player in global steel industry, has increased offers for the cold rolled coil (CRC) export by $15-20 per MT this week, according to sources.

Currently the export offers for CRC from India are being evaluated at $545-550 per MT, compared to $530 per MT last week on free on board (FoB) basis. The prices have increased considerably due to the higher prices of iron ore and coking coal.

In spite of increase in the prices, CRC export sales from India during the period January-October 2016 surged by around 53% and was at 0.72 MnT, against the 0.47 MnT in same period a year earlier.

In the global market, CRC export offers of China are in the range of $535-545 per MT, FoB. In China, the market sentiments are relatively volatile as the local market has lost its strength. Therefore, international buyers are expecting a decline in exports prices.

In the Commonwealth of Independent States (CIS), the CRC export offers have increased by a record of 24% as compared to the last month. Currently, the export offers are hovering in the range of $540-541 per MT, FoB Black Sea.

On the other hand, import offers of CRC from the United Arab Emirates (UAE) are hovering in the range of $545-550 per MT.

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The Dollar Business Bureau - Nov 18, 2016 12:00 IST