Imported HRC offers to Vietnam witnessed further decline later this week amid significant fall in Chinese steel prices. Meanwhile imported HRC offers to Vietnam fell by USD 15/MT from India as well compared to the offers assessed last week.
Currently HRC (SAE 1006) from India to Vietnam is assessed around USD 525/MT CFR basis. Last week imported HRC offers from India were at USD 540/MT CFR basis. However no deals at revised prices have been reported yet.
Meanwhile Chinese HRC export offers is hovering around USD 500/MT FoB basis which was USD 515-520/MT FoB basis in starting of this week.Thus thin demand and excess supply is pulling down steel prices in China.
Current HRC trade offers to Vietnam – Week 46, 2018
1.HRC (SAE 1006) 2-3mm / Chinese offer – Benxi Steel is at USD 525/MT CFR Vietnam.In the beginning of the week offers were at USD 542/MT CFR.
2.HRC (SAE 1006) 2-3mm / Chinese offer – Rizhao Steel is at USD 520/MT CFR Vietnam.
3.HRC (SAE 1006) 2-3mm / Chinese offer – Laiwu Steel is at USD 515/MT CFR Vietnam.
4.HRC (SAE 1006) 2-3mm / Russian offer – MMK Steel is at USD 505/MT CFR Vietnam.
5.HRC (SAE 1006) 2-3mm / Indian offer – Indian mill offer is at USD 525/MT CFR Vietnam.Last deal was concluded at USD 540/MT CFR basis.No major deals concluded.
6.HRC (SAE 1006)) 2-3mm/ Korea offer at USD 575/MT CFR basis.
7. Vietnam based domestic producer,Formosa Ha Tinh Corporation likely to revise HRC offers shortly.
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