Imported HRC offers to Vietnam from Chinese mills have moved down as the end users in Vietnam started preferring domestic HRC amid competitive pricing.
Market sources recently shared that imported HRC offers moved down by USD 5-10/MT W-o-W as offers from Chinese steel mills post Dragon Boat festive holidays scheduled last week.
Also in the beginning of the last week domestic producer Formosa released their fresh offers of HRC for August shipments.
A trader based in Vietnam quoted,” End users in Vietnam are booking good quantities of HRC from domestic market amid competitive pricing and prompt delivery.Thus preferring domestic material rather than imports.”
HRC trade updates in Vietnam – Week 26, 2018
1. HRC/ (SS 400) 2-3mm/Vietnam offer- confirm trade deal heard from market participant that Nam Kim Steel has booked 25,000 MT from local producer Formosa Ha TInh Corporation at USD 610/MT CFR for August shipments
2. HRC/Vietnam offer- confirmed trade heard from market sources that Hoa Sen Steel concluded a deal of 30,000 MT from domestic producer Formosa Ha Tinh Corporation for August shipments.
3. HRC (SAE 1006) 2-3mm / Chinese offer – Benxi Iron & Steel mill at USD 615/MT,CFR Vietnam.Last week the offer was at USD 625/MT CFR basis.
4. HRC (SAE 1006) 2-3mm / Chinese offer – Rizhao Steel at USD 610/MT CFR Vietnam.Last week the offers were at USD 620/MT CFR basis.
5. HRC (SAE 1006) 2-3mm /China offer- Confirmed trade heard by market sources last week that Chinese steel major Baosteel has concluded a deal of 10,000 MT with Vietnamese based buyer Tong Dong A (specialized in producing cold rolled steel, galvanized iron, cold rolled, color toned for industry and civil construction, transportation infrastructure, household appliances) at USD 615 /MT CFR basis.
6. HRC (SAE 1006) 2-3mm /China offer- Confirmed trade heard by market sources last week that Chinese steel major Benxi Iron And Steel has concluded a deal of 5,000 MT with Vietnamese based buyer Chinh Dai (specializes in manufacturing and trading many kinds of Galvanize steel rools, Galvanize steel pipes etc)at USD 615 /MT CFR basis.
7. HRC (SAE 1006) 2-3mm /Russian offer- MMK Steel at USD 605/MT CFR Vietnam.Last week the offers were at USD 610/MT CFR basis.
8. HRC (SAE 1006) 2-3mm /Indian offer- Offers at USD 615/MT CFR Vietnam. Last week Indian mill booked around 100,000 MT HR Coil to Vietnam.
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