This week imported HRC offers to Vietnam witness continual decline in line with weakening HRC export offers from China.
Chinese HRC export offers continued to fall further over bearish market sentiments in domestic market and slow demand from overseas buyers. This in turn results to softening HRC offers to Vietnam.
Confirmed trade deal heard of around 10,000 MT of HRC booked from China based Laiwu Steel to Vietnam at USD 498/MT CFR basis.
Meanwhile downstream demand in Vietnam market remained sluggish owing to which end-users have adopted wait and see approach and will make bookings accordingly.
Also as per SteelMint price assessment of imported HRC offers to Vietnam slashes by USD 30/MT on monthly basis to USD 510/MT CFR in June’19 which was USD 540-545/MT CFR basis in month of April’19.
Current HRC trades to Vietnam – Week 23, 2019
1. HRC (SAE 1006) 2-3mm/Chinese offer- Bao Steel is at USD 510/MT CFR Vietnam.Last week the offers was at USD 515/MT CFR basis.
2. HRC (SAE 1006) 2-3mm/Chinese offer- Laiwu Steel is at USD 498/MT CFR Vietnam.In the beginning of the week offers were around USD 500/MT FoB basis.
3. HRC (SAE 1006) 2-3mm/Chinese offer- Rizhao steel is at USD 500/MT CFR Vietnam.
4. HRC (SAE 1006) 2-3mm/Japanese offer- Nippon Steel is at USD 535/MT CFR basis.
5. HRC (SAE 1006) 2-3mm/Japanese offer- Kobe Steel is at USD 520/MT CFR basis.
6. HRC (SAE 1006) 2-3mm/Indian offer- TATA Steel is at USD 505/MT.In the beginning of this week offers were around USD 510/MT CFR basis.
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