Imported offers of HRC from Chinese mills to Vietnam remain unaltered in the beginning of this week. Since Chinese steelmakers have resumed their operations from today post national holiday and have kept prices largely range bound.
Currently imported offers of HRC (SAE 1006) to Vietnam from China are heard at USD 600-615/MT CFR Vietnam.
Market sources highlighted that Chinese based major mill Benxi Iron and Steel is offering HRC (SAE1006 ) at USD 615/MT CFR Vietnam similar to last week’s price assessment.
However Rizhao Iron and Steel is offering imported HRC (SAE1006 ) at USD 615/MT CFR Vietnam,remain unchanged against previous week.
Other Chinese mills like Shandong Steel and Maanshan Iron and Steel are offering imported HRC on lower side which is heard at USD 600-607/MT CFR basis.
A trader based in Vietnam commented that ”Market sentiments in Vietnam steel market remained slow and bearish amid stability in prices.End users are willing to purchase the material when they are in urgent requirement of fresh stocks since they are waiting for clear outlook for the prices from China”.
Further he added, largest producer of galvanized steel coil, galvalume steel coil and pre painted in Vietnam – Nam Kim have booked HRC around 20,000MT from Chinese based steelmaker Shagang steel at around USD 600-605/MT CFR basis.
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