Market participants shared with SteelMint that Indian steel mills have raised HRC export offers by USD 5-10/MT for buyers based in Vietnam.
Currently Indian HRC export offers is heard around USD 520/MT CFR basis. However no major deals have been concluded yet. Last week an Indian steel maker based in western region booked around 25,000-30,000 MT HRC to Vietnam in the range of USD 512-513/MT CFR basis for Aug’19 shipments.
Also last week Vietnam’s domestic mill -Formosa Ha Tinh raised HRC prices by USD 25/MT for Sep’19 shipments and slight uptrend in Chinese HRC offers motivated Indian mills to raise HRC export offers for Vietnam.
Current HRC Trades to Vietnam- Week 30, 2019
1.HRC (SAE 1006) 2-3mm/Chinese offer- Laiwu Steel is at USD 515/MT CFR Vietnam. Last week offers stood at USD 505/MT CFR basis.
2.HRC (SAE 1006) 2-3mm/Chinese offer- Baosteel Steel is at USD 525/MT CFR Vietnam.Last week offers stood at USD 515/MT CFR basis.
3.HRC (SAE 1006) 2-3mm/Korean offer- Hyundai Steel is at USD 530/MT CFR Vietnam.
4.HRC (SAE 1006) 2-3mm/Brazil – Arcelor Mittal is at USD 525/MT CFR Vietnam. Last week offers stood around USD 515/MT CFR basis.
5.HRC (SAE 1006) 2-3mm/India – Indian steel mills offer at USD 520/MT CFR Vietnam. Last week the offers were around USD 510-515/MT CFR basis.
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