South Korean major steel company is reported to have booked around 20,000 MT HRC (1.8 mm, SS400) with China. The deal price is noted at USD 395-400/MT CFR basis SteelMint learned from its prominent sources.
— Prior to this China had booked nearly 100,000 MT HRC from South Korea and 40,000 MT HRC from India last week.
–Competitive imports have kept domestic HRC prices under pressure and are currently assessed at RMB 3,280-3,300/MT (inclusive of VAT).
Few trade updates on Vietnam market:
—Baosteel booked 40,000 MT of HRC to Vietnam: Another deal was booked by Chinese based major steel mill, Baosteel to Vietnam for May – June shipments. Buyers booked around 40,000 MT of HRC at USD 410-415/MT CFR Vietnam.
— Formosa Ha Tinh will not announce prices for May- June deliveries- Company has deferred the announcement of prices for May- June deliveries. Sources have shared that the company has not made any official announcement yet and is possibly negotiating prices separately with individual customers. Few sources shared that the company is offering HRC at USD 420/MT CIF basis (skin pass) while non -skin pass at USD 415/MT CIF basis, but it could not be confirmed from official sources.
— Indian steel mills raised HRC export offers to Vietnam – Major Indian steelmakers have slightly raised HRC export offers to Vietnam at USD 405-410/MT CFR basis but no major deals have been concluded yet at these offers.
Current HRC offers to Vietnam
— HRC (SAE 1006, 2mm), South Korea-Hyundai Steel’s offer continues to hover at USD 415/MT CFR basis.
— HRC (SAE 1006, 2mm), Japan – Nippon Steel offers stood at USD 415/MT CFR basis.
— HRC (SAE 1006, 2mm), Russia- MMK is offered at USD 390/MT CFR basis.
Leave a Reply