Imported HRC offers for Vietnam have moved up USD 10/t this week from major exporting nations, SteelMint gathered from its sources. Uptrend in global HRC offers coupled with active buying interest resulted in increase in imported HRC offers to Vietnam.
Indian steel mills further raise HRC export offers – HRC (SAE 1006) export offers from India have increased further by USD 10/t and offering at USD 445/t CFR basis. Last week the offers were around USD 435-440/t.
Last week two HRC deals for small parcels were reported to have concluded:
1.A private steel manufacturer has booked 20,000t HRC at USD 438-440/t CFR Vietnam for July end- Aug shipment.
2.In another deal reported this week another Indian private mill booked a parcel of 15,000-20,000t HRC to Vietnam at USD 438-439/t CFR basis.
Current imported HRC (Sae 1006, 2mm) offers to Vietnam-
–China- Benxi Steel offer stands at USD 465/t CFR basis. Last week the offer was around USD 455/t CFR basis.
–China- Chunghung Steel offer stands at USD 450/t CFR basis.Last week the offers were in the range of USD 445/MT CFR basis.
–Japan- Nippon steel and JFE are offering at $460/t CFR basis. Last week the offers were in the range of USD 450/t CFR basis.
–South Korea- Hyundai Steel offer stands at USD 460/t CFR basis. Last week the offer was around USD 450/t CFR basis.
–Russia- Severstal offering at USD 440/t CFR basis.
–Vietnam: Sources expect Formosa to hike offers by around USD 10-15/t, although an official announcement is still awaited.
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