Market participants shared with SteelMint that major Indian steelmakers are planning to raise HRC export offers for Vietnam by USD 10-20/MT for April shipments. Few of the major Indian steel mills had kept their offers on hold after their recent hike in domestic prices.
However an eastern India based mill is learned to have offered HRC at around USD 560/MT, CFR Vietnam, which is higher by USD 10 from its previous offer floated towards end of Feb’19.
Meanwhile other major steel mills will resume their HRC export offers for Vietnam from next week. Indian steel mills are eyeing for higher HRC export offers at around USD 560-570/MT CFR Vietnam. Last HRC export offers were in range of USD 545-550/MT CFR basis for March shipments.
Indian mills are raising HRC export offers over bullish sentiments and recovery in demand in global market.Meanwhile major Indian steelmakers have also raised domestic HRC prices by INR 1000-1500/MT (USD 14-21) last week for March deliveries.
Imported HRC offers to Vietnam moved up from China-This week imported HRC offers to Vietnam moved up from China as steel mills have also raised HRC export offers by USD 10-15/MT this week.
Current HRC trades to Vietnam
1.HRC (SAE 1006) 2-3mm/Chinese offer – Benxi Iron and Steel is at USD 555/MT CFR Vietnam.
2.HRC (SAE 1006) 2-3mm/Chinese offer – Laiwu Steel is at USD 550/MT CFR Vietnam.
3.HRC (SAE 1006) 2-3mm/South Korea offer – Hyundai Steel is at USD 570/MT CFR Vietnam.
Leave a Reply