In the beginning of this week Chinese steel prices reported hike amid stronger Chinese currency (Yuan). This in turn edges up imported HRC offers to Vietnam from China. Chinese Yuan has appreciated to 6.75 against USD which was 6.85 a week back.
Imported HRC offers to Vietnam edged up by USD 5-10/MT against the beginning of this week following gains in Chinese steel prices.
Meanwhile domestic steelmaker Formosa Ha Tinh Corporation also raised its HRC prices by USD 15/MT and is offering at USD 495/MT CFR basis for Feb-March shipments.However company is also planning to offer discounts in order to escalate buying.
Imported HRC offers to Vietnam – Week 3, 2019
1.HRC (SAE 1006) 2-3mm/Chinese offer- Benxi Steel is at USD 500/MT CFR Vietnam.
2.HRC (SAE 1006) 2-3mm/Chinese offer – Baosteel is at USD 492/MT CFR Vietnam.In the beginning of the week the offers stood at USD 492/MT CFR basis.
3.HRC (SAE 1006) 2-3mm/Chinese offer – Rizhao Steel is at USD 488/MT CFR Vietnam.In the beginning of the week the offers stood at USD 480/MT CFR basis.
4.HRC (SAE 1006) 2.5 mm and above/Chinese offer – Laiwu Steel is at USD 480/MT CFR Vietnam.In the beginning of the week the offers stood at USD 480/MT CFR basis.
Leave a Reply