Indian Steel Mill Books HRC Export Cargoes to Vietnam – Sources

Indian mills have resumed their export offers after the hike of flat steel prices in domestic market.However Indian HRC export offers are observed on previous week price levels which is assessed at USD 540-545/MT FoB basis for Vietnam. However for other markets HRC offers are around USD 565-570/MT, FoB India.

As per market sources reported to SteelMint recently major Indian steel mill has booked cargo of 40,000 tonnes of HRC for export to Vietnam which is heard in the range of USD 560/MT CFR Vietnam.

Chinese HRC export offers boost amid domestic gains -Strengthening steel prices in domestic market have pushed global HRC export offers on higher side.

Currently HRC commercial grade ASTM A36 export offers are prevailing in the range of USD 570/MT,FoB China.Last offers were heard in the range of USD 560/MT on FoB basis.Payment are made on letter of credit basis for 1,000-10,000 MT.

Prices of HRC in domestic market moved up by RMB 30/MT D-o-D and are hovering in the range of RMB 4,320-4,350/MT (Eastern China) and RMB 4,350-4,380 (Northern China) including VAT & other taxes.

Major mills in China are offering in the range of USD 580/MT FoB basis mills are reluctant to negotiate the offers with overseas buyers.

CIS origin HRC export offers remained stable-CIS origin HRC export offers are heard in the range of USD 515-545/MT FoB Black Sea.Last assessment was also made in similar levels.However Russian HRC export offers for Vietnam are heard at USD 560-570/MT CFR basis.

Global Flat Steel Export Offers-Week 50

Source-SteelMint Research
*including VAT