Amid improvement in buying interest, Vietnam based importers have turned active in booking cargoes from China and India.Current imported HRC offers for Chinese origin HRC (SAE 1006) is around USD 522-565/MT on CFR basis. Major mills in China like Benxi offers at around USD 565/MT, CFR .However Rizaho is not offering presently and has seeking for new bids.Apart from this,Taiwan mills also offering at at USD 575/MT CFR Vietnam.
Vietnam’s Formosa is hearing offering at around USD 560-565/MT, delivered Ho Chi Minh city.
Chinese HRC export offers increases amid bullish sentiments in domestic market – Nation’s HRC export offers witnessed rise of USD 5-10/MT as the prices started to surge in the domestic market.Higher domestic prices resulted in increasing HRC export offers in China.
Currently HRC commercial grade ASTM A36 export offers are prevailing in the range of USD 555-560/MT, FoB China.Last offers were heard in the range of USD 545-555/MT on FoB basis.Payment are made on letter of credit basis for 1,000-10,000 MT.
Prices of HRC in domestic market also witness the RMB 50-70/MT D-o-D and are hovering in the range of RMB 4,120-4,140/MT (Eastern China) and RMB 4,090-4,130 (Northern China) including VAT & other taxes.
Major mills in China are offering HRC at USD 560/MT FoB basis.
Bhushan Steel actively offering HRC cargoes to Vietnam – Sources
As per sources, Bhushan steel is quite aggressively offering cargoes in Vietnamese market. Steel maker offers are heard in the range of USD 550-555/MT, CFR basis. However SteelMint’s assessment for Indian HRC export stands at USD 540-545/MT, FoB basis. However HRC export offers for Europe are heard at USD 590/MT CFR Europe.
CIS origin HRC export offers remained unchanged amid limited trades-CIS nations HRC export are heard in the range of USD 515-545/MT, FoB Black Sea which is similar to previous week price levels.Although Russian mills have stopped offering as decent booking were made last week at an average price of around USD 555/MT CFR Vietnam.
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