Vietnam’s domestic integrated steel producer Formosa Ha Tinh has announced an increase in its prices for all its Hot rolled products by USD 10/MT today for Jan’20 deliveries.
According to company officials, revised offers for HRC (SAE 1006, skin pass) are assessed around USD 470/MT CIF Ho Chi Minh city against last month’s offer.Also as per sources, Formosa may give discounts/rebates of USD 5-10/MT for Jan over the quoted offers.
Prior this,last month offers stood around USD 460/MT CIF basis for Dec deliveries.
Meanwhile, offers for HRC of (non-skin pass) stood at USD 465/MT, CIF basis. Last month the company offered the same grade at USD 455/MT CIF basis.
Along with this, the company is offering SS400 & Pipe-making grade HRC at around USD 460/MT CIF basis for Jan shipments, which was USD 450/MT CIF basis last month.
Meanwhile imported HRC offers to Vietnam have witnessed a continual increase since past two weeks from both India and China on the back of improving sentiments in the global market and increased bids Vietnamese buyers.
Nonetheless, amidst competitive offers from Indian and Russian steelmakers, the company had announced a reduction in its offers by USD 20/MT for Dec deliveries in the preceding month, followed by an announcement of a discount of USD 25/MT later in the month.
Current HRC offers to Vietnam
1. HRC (SAE 1006) 2mm/ Japanese offer- Nippon Steel offers stand at USD 450/MT CFR basis. Offers were at USD 445/MT CFR basis at the beginning of this week.
2. HRC (SAE 1006) 2mm/ South Korean offer- Hyundai Steel offer stands at USD 450/MT CFR basis.In the beginning of this week offers stood at USD 440/MT CFR basis.
3. HRC (SAE 1006) 2mm/ Indian offer- Few Indian steel mills are heard offering HRC at USD 440-445/MT CFR basis.
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