Flat steel mills in Russia and Ukraine have turned active in HRC export market and are seen offering HRC aggressively to cater to other markets.
In Oct’17, EU has imposed definitive anti dumping duty on hot-rolled steel originating from Brazil, Iran, Russia and Ukraine in order to protect the domestic industry from cheaper imports. The rates fixed were in the range of Euro 17.60-96.50 per tonne, as a definitive trade defense measure against HRC originating from Brazil, Iran, Russia and Ukraine, following a 15-month investigation.
Post anti-dumping imposition, CIS suppliers have started looking up for new markets.And also they are booking shipments ahead of winter season.Offers Russia based steel maker -MMK steel seen offering HRC at around USD 554/MT CFR Vietnam.
Chinese HRC export offers to Vietnam remained stable– Currently imported HRC 2-3mm ( grade SAE 1006 ) offers from major Chinese mills like Xinyu and Magang are in the range of USD 565/MT CFR Vietnam. Although Benxi mills are offering in higher side in the range of USD 580/CFR Vietnam.
Indian HRC export offers remain unaltered for Vietnamese importers -.According to the latest assessment, Indian HRC export offers are heard around USD 540-545/MT, FoB India.Market sources mentioned that bookings of 20-25 thousand tonnes have been made for Vietnam in the range of USD 550-560/MT CFR Vietnam.
Offers from Japanese & Korean steel mills – Major mills in Japan like JFE and Nippon are also offering in the range of USD 605-610/CFR Vietnam.
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