Vietnam’s domestic steel mill – Formosa Ha Tinh Corporation has released their fresh offers today by raising the HRC offers by USD 10/MT for August shipments.These offers are considered as a benchmark for Vietnamese buyers.
As per company sources , currently Formosa is offering HRC (skin pass) at USD 625/MT CFR Ho Chi Minh City. Last month the offers were at USD 615/MT CFR basis.Thus the price assessment has moved up this month by USD 15/MT.
Market sources mentioned that,domestic producer Formosa has raised HRC prices owing to active buying by end users in Vietnam.Also easy availability,faster delivery and credit facility motivates buyers to prefer domestic HRC rather than imported material.
Meanwhile Formosa has kept the offers of wire rod unchanged and its hovering around USD 595/MT CFR basis for August shipments.
Current HRC trade offers To Vietnam.
1.Indian mills are offering HRC to Vietnam in the range of USD 610-620/MT CFR basis. Indian mills book around 100,000 MT HR Coil to South East Asia in June.
2.Japanese based mills continue to offer HRC to Vietnam at around USD 650/MT CFR basis.
3.Currently no firm offers from major mills in China amid three days Dragon Boat festive holidays. However assessment stands at around USD 625/MT, CFR.
4.Russian mills are offering HRC to Vietnam at USD 610/MT CFR Vietnam.
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