Market participants shared with SteelMint that Vietnam’s domestic producer Formosa Ha Tinh Corporation is planning to announce its HRC offers for August shipments shortly. As per sources, announcement is expected by the end of this week or in beginning of next week.
Previously Formosa has announced their prices for July shipments on 20th May ‘18. The company had quoted their HRC offers up by USD 15/MT M-o-M basis which stood at USD 615/MT CFR Ho Chi Minh City.
Imported HRC offers from Chinese mills to Vietnam remain stable this week unlike last week when the offers moved up marginally by USD 5-10/MT.
Currently imported HRC offers from China were at USD 610-617/MT,CFR Vietnam for August shipments.Last week the offers stood at the levels of USD 607-620/MT,CFR basis.
End users in Vietnam are waiting for Formosa’s price announcement in near term so that they can compare the prices between domestic and imported material and then book the material accordingly.
Current HRC trade offers to Vietnam
1.HRC (SAE 1006) 2-3mm / Chinese offer – Benxi Iron & Steel mill at USD 615-617/MT, CFR Vietnam. Last week the offer was at USD 615/MT CFR basis.
2.HRC (SAE 1006) 2-3mm / Chinese offer – Rizhao Steel at USD 613-615/MT CFR Vietnam.Last week the offers were at USD 610/MT CFR basis.
3.HRC (SS 400) 2-3mm / Chinese offer – Shandong Steel at USD 610/MT CFR Vietnam.
4.HRC (SAE 1006) 2-3mm / Vietnam market: Confirmed trade heard by market sources at USD 595 /MT CFR for 40,000 MT sold by Russian major steel mill.
5.Last week Indian major mill offered HRC to Vietnam at USD 607-610/MT CFR Vietnam
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