Imported HRC offers to Vietnam decline further by USD 10-15/MT amid downtrend in Chinese steel prices.
Currently imported offers of HRC (SAE 1006) to Vietnam from China are heard at USD 600-605/MT CFR Vietnam.As per previous price assessment offers were at USD 610-620/MT CFR Vietnam.
Market sources mentioned that Chinese based major mill Benxi Iron and Steel is offering HRC (SAE1006 ) at USD 600-605/MT CFR Vietnam.This is down by USD 15/MT against previous price assessment which was USD 620/MT,CFR Vietnam.
However Rizhao Iron and Steel is offering imported HRC (SAE1006 ) on lower side which stood at USD 595-600/MT CFR Vietnam.
A Vietnam based steel trader commented that,”Buyers in Vietnam are very cautious before booking imported HRC since market is unstable and they are bidding at lower levels than what mills are currently offering.”
Meanwhile,Japanese based major mills Nippon Steel & JFE are offering imported HRC to Vietnam at USD 650/MT CFR Vietnam which is close to USD 635 /MT FoB Japan (freight will be around USD 15/MT).
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