In a recent conversation with market participants, SteelMint learned that imported HRC offers to Vietnam increased further by USD 10-20/MT from major exporting nations.
Buyers in Vietnam are highly attracted towards Indian origin cargoes over cost-effective imports. Also improved trades in the domestic market provided enough confidence to Indian steel mills to raise HRC offers in the overseas market.
In addition to this, robust domestic demand in China amid winter season, and upcoming New year holidays propelled mills to raise their HRC export offers to Vietnam.
Current HRC offers to Vietnam- Week 48, 2019
1. HRC (SAE 1006) 2mm, Chinese- Chinese mills are offering at USD 470/MT CFR basis.
2. HRC (SAE 1006) 2mm, Japan- Nippon steel offers stand at USD 470/MT CFR basis. Previous week offers stood at USD 450/MT CFR basis.
3. HRC (SAE 1006) 2mm, South Korean – Hyundai steel offers stand at USD 470/MT CFR basis. Previous week offers stood at USD 450/MT CFR basis.
4. HRC (SAE 1006) 2mm,India- Indian mills are offering at USD 460/MT CFR basis. Last week the offers was in range of USD 450-455/MT CFR basis.
5. Last week an Indian private steel manufacturer had booked around 10,000 MT of HRC at USD 455/MT CFR Vietnam for Dec-end Jan shipments.
6. Another deal involved 5,000-10,000 MT of HRC booked by Indian private steel mill last week at USD 450/MT CFR Vietnam for Dec-end Jan deliveries.
7. Vietnam’s domestic integrated steelmaker, Formosa is offering HRC (skin pass, SAE 1006) at USD 470/MT CIF basis for Dec-Jan shipments.
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