Indian HRC export prices to Vietnam have moved up by USD 10-15/MT W-o-W. SteelMint learned from market sources that towards the end of last week, an eastern India-based prominent steel manufacturer booked 15,000 MT HRC for export to Vietnam at USD 495-500/MT CFR Vietnam for Jan-end-Feb deliveries.
A week back, Indian steel mills were offering HRC exports to Vietnam at USD 480-485/MT CFR Vietnam.
Vietnam’s integrated steel maker Formosa Ha Tinh is planning to undergo maintenance shutdown at its hot strip mills on 30th Dec’19 until 17th Jan’19, which may impact the company’s production volume by 35%. This can boost India’s HRC export offers on the higher side.
In line with this, other major exporting nations have also raised their imported HRC offers by USD 10/MT this week. However, Vietnamese buyers are bidding around USD 490-495/MT CFR basis.
Current HRC export offers to Vietnam- Week 52, 2019
1.HRC (SAE 1006) 2mm, China- Rizhao Steel offer increased to USD 500/MT CFR basis, which was USD 490/MT CFR basis a week ago.
2. HRC (SAE 1006) 2mm, Japan- Nippon Steel is offering at USD 500/MT CFR basis. The previous week’s offers were at USD 490/MT CFR basis.
3. HRC (SAE 1006) 2mm, South Korea- Hyundai Steel is offering at USD 500/MT CFR basis. The previous week’s offers were at USD 490/MT CFR basis.
4. HRC (SAE 1006) 2mm, Brazil- ArcelorMittal is offering at USD 495/MT CFR basis.
5. Vietnam’s domestic integrated steel maker Formosa Ha Tinh is offering HRC (SAE 1006, skin pass) HRC at USD 485/MT CIF for Jan’20 deliveries.
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