A prominent Indian steel manufacturer is reported to have booked about 20,000 t HRC re-rolling grade for exports to Vietnam.
The deal is concluded at $995/t CFR basis for June delivery, SteelMint learned from its credible sources. However, fresh offers are now heard around $1,010-1,020/t CFR. Indian mills are actively exporting HRC to Vietnam on higher price realizations.
Vietnam-based downstream mills are awaiting price revision by Formosa which is likely to be announced next week.
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