An Indian mill is heard to have booked around 20,000 MT HRC for exports to Vietnam via Chinese trading company. The deal was heard to have concluded at USD 395/MT CFR Vietnam for May – June shipments shared by Vietnam based prominent sources to SteelMint.
Last week another major Indian steelmaker booked 40,000 MT HRC at USD 405/MT CFR basis for May June shipments.
However, Vietnam buyers are quite interested to book the material with Indian mills over China amid cost-effective offers. However, they shared that they are uncertain if Indian steel mills will be able to export the cargoes timely amid lock-down.
Meanwhile, market participants based in Vietnam shared that a nation-wide lock-down has been commenced in Vietnam from today until 15th Apr’20 to contain the spread of COVID-19.
Current imported HRC offers to Vietnam-
— HRC (SAE 1006, 2mm), China- Benxi Steel is offering at USD 410-415/MT CFR basis. The previous offer was at USD 420/MT CFR basis.
— HRC (SAE 1006, 2mm), China- Chunghung Steel is offering at USD 415/MT CFR basis. Previous offer- USD 420/MT CFR basis.
– HRC (SAE 1006, 2mm), Russia- MMK is offering USD 380-390/MT CFR basis. The prior offer was USD 380-395/MT CFR basis.
— Formosa Ha Tinh is offering HRC (SAE 1006, skin pass) at around USD 480/MT CFR for May shipments. However, amid recent lockdown announced in Vietnam, company may plan to scale down the operations. Although the same remained under discussion
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