Chinese steel prices have started recovering in domestic market from beginning of this week which in turn leads to uptrend in export offers as well. Towards the end of this week imported HRC offers to Vietnam have inched up by USD 5-10/MT on CFR basis.
However end users remain cautious and are holding back their purchases over volatility in Chinese prices. They are waiting for more clear outlook before booking material for steel price in China and Russia. Buyers are still heard to bid lower by USD 10/MT than current offers.
Domestic HRC prices in eastern China have increased by Yuan 10-20/MT yesterday and by Yuan 20-30/MT in northern China.
Current HRC trade offers to Vietnam – Week 49, 2018
1. HRC (SAE 1006) 2-3mm / Chinese offer – Benxi Steel is at USD 510/MT CFR Vietnam. Last offers were heard at USD 500/MT CFR basis earlier this week.
2. HRC (SAE 1006) 2-3mm / Chinese offer – Xinyu Steel is at USD 495/MT CFR Vietnam.Last offers was stood at USD 490/MT CFR basis earlier this week.
3. HRC (SAE 1006) 2-3mm / Chinese offer – Laiwu Steel is at USD 493/MT CFR Vietnam.Last offers were at USD 490/MT CFR basis earlier this week.
4. HRC (SAE 1006) 2-3mm / Chinese offer – Baosteel is at USD 515/MT CFR Vietnam.
5. HRC (SAE 1006) 2-3mm / Russian offer – is at USD 500/MT CFR Vietnam for big coils.
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