SteelMint learned from industry participants that major Indian steelmakers have started exploring export options to East Asia and Middle East for Sep shipments over dull demand in Vietnam.
As per an update received a major Indian steel mill booked around 20,000 MT of HRC to Korea and Taiwan at around USD 505-510/MT CFR basis for September shipments.
Also few other sources shared that Indian steelmaker booked a small parcel of around 5000 MT of HRC with Middle East for Sep shipments. Indicative prices of deal was around USD 525-530/MT CFR basis, however it could not be confirmed till the time of publishing this report.
Meanwhile Indian HRC export offers to Vietnam is heard around USD 505-510/MT CFR basis for Sep shipments, however no deals were reported so far as bids continue to move down.Chinese HRC offers to Vietnam is around USD 505-518/MT, CFR.
Indian HRC/Plates exports in Jan-May’19- As per data maintained with SteelMint, Indian HRC/Plates exports stood at 3.13 MnT in Jan-May’19 which was 2.93 MnT in similar time frame of previous year.
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