Imported offers of HRC to Vietnam continue to remain steady owing to bearish market sentiments along with monsoons. Meanwhile end users are also preferring lower domestic offers over imported ones over lackluster demand.
Currently imported offers of HRC ( SAE 1006) to Vietnam from China is assessed at USD 595-600/MT CFR basis. However Japanese and Korean mills have resumed offers this week.
A major steel manufacture based in Vietnam mentioned that,”Bids continue to remain on lower side and we are bidding at USD 5-10/MT lower compared to current Chinese HRC import offers over weak purchases”.
Meanwhile market sources also shared that, last week a deal of 20,000 MT of HRC has been concluded by Vietnam based mills Hoa Sen steel with major mill based in eastern region of India at around USD 595/MT CFR basis.
Imported HRC offers to Vietnam from China – Week 33, 2018
1.HRC (SAE 1006) 2-3mm / Chinese offer – Benxi Iron & Steel mill at USD 600/MT,CFR Vietnam. Last week the offers stood at USD 605/MT CFR basis.
2.HRC (SAE 1006) 2-3mm / Chinese offer – Rizhao Steel at USD 600/MT CFR Vietnam.
3.HRC (SAE 1006) 2-3mm / Chinese offer -Magang Steel at USD 595/MT CFR Vietnam.Last week the offers was at USD 592/MT CFR.Few deals concluded last week.
4.HRC (SAE 1006) 2-3mm / Chinese offer -Baosteel Iron and Steel Ltd at USD 600/MT CFR Vietnam.
5.HRC (SAE 1006) 2-3mm / Chinese offer -Shandong Iron and Steel Ltd at USD 595/MT CFR Vietnam.
6.HRC (SAE 1006) 2-3mm / Indian offer – Offer from major Indian mill based in eastern region is at USD 595/MT CFR Vietnam.
7.HRC (SAE 1006) 2-3mm / Korean offer – Hyundai Steel Offer at USD 630/MT CFR basis.
8.HRC (SAE 1006) 2-3mm / Japanese offer – JFE Steel offer at USD 615/MT CFR basis.
Formosa to revise domestic offers shortly – Vietnam’s domestic steel producer Formosa Ha Tinh Corporation likely to revise their monthly offers by the end of this week. Last offers for skin pass HRC were heard in the range of USD 610/MT CIF Ho Chi Minh City.
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