Company announced its pricing policy today for June deliveries and offering HRC (skin pass,SAE 1006) at USD 440/MT CIF basis, and non-skin pass is at USD 435/MT CIF basis.
Also, a few market participants shared that there is a possibility of the company giving discount up to USD 15/MT while negotiating with the customers. Meanwhile other trade sources shared that different offers received in the market.
Last month the company had deferred its price announcement and was negotiating individually with customers.
Wire rod offers- Company is offering its merchandise quality (MQ1) wire rod at USD 481/MT CIF basis and merchandise quality (MQ2) at USD 471/MT CIF basis for June deliveries.
Recent deals concluded to Vietnam
— At the beginning of the week, a private steel mill based in eastern India booked around 50,000 MT of HRC for exports at USD 430-435/MT CFR for July deliveries
— In similar lines, government-owned steel manufacturer has also booked a small parcel of 10,000 MT of HRC with Vietnam at USD 420-422/MT CFR basis for June end- July delivery.
–Towards the beginning of last week, a major private Indian mill based in the western region had booked around 25,000-30,000 MT at USD 425-430/MT CFR basis
–Another mill based in eastern India had booked 20,000 MT of HRC last week at USD 425-430/MT CFR basis for July shipments.
Current imported HRC (SAE 1006, 2mm) offers to Vietnam-
–China- Benxi Steel is offering at USD 440/MT CFR basis. Previous offer- USD 430/MT CFR basis.
— Japan- Nippon Steel’s offer is at USD 440/MT CFR basis. Prior offer- 435/MT CFR basis.
–South Korea- Hyundai Steel is offering at USD 435/MT CFR basis. Previous offer- USD 430/MT CFR basis.
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