As per market sources,a major Indian mill – JSW Steel has recently concluded a deal for about 20,000 MT HRC with Vietnam based mill for August shipment. The deal price is in range of USD 613-615/MT CFR Vietnam.
JSW Steel’s flat steel output remained unchanged in FY18 and stood 11.44 MnT. In FY17 the same stood at 11.41 MnT.
Indian mills have booked over 150,000 MT HRC for export to SE Asian nations as well as Middle East countries. Dull domestic demand and currency depreciation resulted in increased HRC exports from India.
Although Imported HRC offers from China remain firm amid weakening domestic and export prices in China. Meanwhile end users in Vietnam are also preferring domestic HRC over imported material on prompt delivery.
Few HRC trade updates in Vietnam – Week 27, 2018
1.HRC (SS 400) /China offer- Confirmed trade heard by market sources last week that Chinese based Shagang Steel has concluded a deal of 5,000 MT with Vietnamese based buyer Chinh Dai (specializes in manufacturing and trading many kinds of Galvanize steel rools,Galvanize steel pipes etc) at USD 600/MT CFR basis.
2.HRC (SAE 1006) 2-3mm / Chinese offer – Benxi Iron & Steel mill at USD 615/MT,CFR Vietnam. Last week the offers were at USD 610/MT.
3.HRC (SAE 1006) 2-3mm / Chinese offer – Rizhao Steel at USD 610/MT CFR Vietnam, against USD 605/MT CFR basis.
4.HRC (SAE 1006) 2-3mm / Chinese offer – Anshan Steel at USD 610/MT CFR Vietnam.
5.HRC (SAE 1006) 2-3mm /Russian offer- Confirmed trade heard by market sources last week that Russian based MMK Steel has concluded a deal of 30,000 MT with Vietnamese based steel mill at USD 593/MT CFR basis.
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