This week imported offers of HRC remain unaltered amid weak buying interest from end users in Vietnam.Buyers in Vietnam are quoting bids on lower side as they are anticipating further fall in imported HRC offers from Chinese mills.
Currently Chinese mills are offering imported HRC (SAE 1006) to Vietnam in range of USD 600-605/MT CFR basis.However end users are bidding around USD 590/MT CFR basis.No major deals concluded yet.
”We are getting offers from Chinese mills around USD 603/MT, CFR. There is hardly any buying interest seen at these levels”, shared a source from Vietnam’s largest producer of galvanized steel coil, galvalume steel coil and pre painted.
Imported HRC offers to Vietnam – Week 29
1.HRC (SAE 1006) 2-3mm / Chinese offer – Benxi Iron & Steel mill at USD 605/MT,CFR Vietnam.
2.HRC (SAE 1006) 2-3mm / Chinese offer – Rizhao Steel at USD 600/MT CFR Vietnam.
3.HRC (SAE 1006) 2-3 mm/Indian offer- Steel Mill at USD 600-605/MT CFR Vietnam.
Last week a major Indian steel mill based in western region has concluded a deal of 5000 MT of HRC cargo to Vietnam buyer in the range of USD 600-605/MT CFR basis. Later last week few deals were also reported at USD 595/MT, CFR.
Formosa to open offers shortly – Vietnam’s,domestic mill Formosa Ha Tinh is likely to revise their HRC offers by the end of this week (around 20th July) or early next week. Thus end users in Vietnam prefer domestic HRC over greater convenience as compare to imported HRC from China.
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