This week imported HRC offers to Vietnam continued to remain under pressure amid weak demand, lower sales volumes and higher inventory level.
— However, in a recent conversation with Vietnam based market sources, SteelMint learned that imported HRC offers from South Korea declined by around USD 35/MT and hovering at USD 420/MT CFR Vietnam in contrast with USD 455/MT CFR basis last week.
— Meanwhile, there was also a market chatter about the Japanese mills reducing their offers, Although the same could not be confirmed till the time of publishing the article.
— Last week India based major supplier also lowered its offer with the motive to explore export options as domestic trades have come to a standstill amid lockdown.
Current imported HRC offers to Vietnam
— HRC (SAE 1006, 2mm), China- Benxi Steel is offering at USD 420/MT CFR basis.
— HRC (SAE 1006, 2mm), China- Chunghung Steel is offering at USD 420/MT CFR basis.
— Last week an Indian mill booked around 40,000 MT HRC for exports to Vietnam at around USD 405/MT CFR basis at the end of the previous week.
— HRC (SAE1006, small coils), Ukraine- Metinvest Steel is offering HRC at USD 425-430/MT CFR basis
— Formosa Ha Tinh is offering HRC (SAE 1006, skin pass) at around USD 480/MT CFR basis slashed by USD 40/MT for May shipments. Sources also shared that, the company may cut production in the near term, although it’s still under discussion.
Leave a Reply