Towards the end of this week imported HRC offers to Vietnam increase further following surge in HRC export offers from China.
Imported HRC offers to Vietnam from China moved up further by USD 10/MT and are heard at USD 510-520/MT CFR basis which was USD 505-510/MT CFR basis in beginning of this week.
Thus end users in Vietnam are actively importing material and are replenishing the stocks amid anticipation of further jump in Chinese steel prices over recent production announcement in Tangshan region.
Current HRC Trades to Vietnam – Week 26
1.HRC (SAE 1006) 2-3mm/Chinese offer- Benxi Steel is at USD 520/MT CFR Vietnam.In the beginning of this week offers was around USD 510/MT CFR basis.
2.HRC (SAE 1006) 2-3mm/Chinese offer- Baosteel is at USD 520/MT CFR Vietnam.
3.HRC (SAE 1006) 2-3mm/Chinese offer- Laiwu Steel is at USD 510/MT CFR Vietnam. Last week the offers were heard around USD 495/MT CFR basis.
4. Confirmed trade deals heard that Nippon steel booked 30,000 MT of HRC with Hoasen based in Vietnam at around USD 517/MT CFR.
5.Confirmed trade deals heard of around 50,000 MT of HRC has been booked by major Indian steel mills at around USD 508-510/MT CFR basis for July Aug shipments.
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