Market sources shared with SteelMint that in previous week imported HRC offers to Vietnam have increased from India and China. However end users in Vietnam are bidding HRC offers on lower side.
A source from major Indian mill shared that, few Indian exporters are offering HRC to Vietnam at around USD 560/MT CFR Vietnam. However buyers are bidding around USD 547-550/MT CFR basis for April shipments.
Similarly,Chinese mills also raised imported HRC offers for Vietnam on weekly basis.However limited deals were heard from end users in Vietnam.
Thus end users in Vietnam are looking for cheaper HRC offers from mills in India and China since end users can easily procure material from domestic producer Formosa Ha Tinh over easy availability.
Current HRC Trade offers to Vietnam – Week 11, 2019
1.HRC (SAE 1006) 2-3mm/Chinese offer – Benxi Iron and Steel is at USD 550-555/MT CFR Vietnam.
2.Confirmed trade deal heard of around 10,000 MT of HRC (SAE 1006) 2-3mm with Chinese origin Benxi Iron and Steel at USD 550/MT CFR Vietnam.
3.HRC (SAE 1006) 2-3mm/Chinese offer – Laiwu Steel is at USD 547- 550/MT CFR Vietnam.
4.HRC (SAE 1006) 2-3mm/South Korea offer – Hyundai Steel is at USD 570/MT CFR Vietnam.
5.HRC (SAE 1006) 2-3mm/Indian offer – Tata Steel is at USD 560/MT CFR Vietnam.
6.Formosa Ha Tinh is offering HRC (skin pass,SAE1006) at around USD 535/MT CIF for April shipments.
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