Imported offers of HRC from Chinese mills to Vietnam have come down by USD 10-15/MT on weekly basis amid limited buying from end users in Vietnam.
Currently imported offers of HRC (SAE 1006) to Vietnam from China are heard at USD 590-610/MT CFR Vietnam. However end users in Vietnam are heard placing bids lower by USD 5-10/MT than current offers.
Market sources highlighted that Chinese based major mill like Benxi Iron and Steel is offering HRC (SAE1006 ) at USD 610/MT CFR Vietnam, down by USD 15/MT against USD 625/MT CFR, previous week.
However Rizhao Iron and Steel is offering imported HRC (SAE1006 ) at USD 600/MT CFR Vietnam against USD 615-620/MT, a week earlier.
Other Chinese mills like Shandong Steel is offering imported HRC on lower side which is heard at USD 595/MT CFR basis.
Market participants commented that Vietnamese based re-rollers posses sufficient inventories and are in no hurry to book material.
Imported HRC offers from Japan remain on higher side – Major mills in Japan continues to offer HRC on higher side.According to the market participants major mills in Japan are offering HRC around USD 660-665/MT CFR basis.However no major deals have concluded yet.
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