This week imported HRC offers to Vietnam plunged further by USD 15-20/MT W-o-W in comparison to last week offers for positioned cargoes.
The barriers like slow logistics, and dull demand caused by the Coronavirus outbreak, dampened the market sentiments in China. However, the Vietnamese buyers shared pessimism continues to prevail in the market over continuous fall in offers. Also, importers seem reluctant to make fresh purchases amid the absence of clarity in the market.
Also, Vietnamese domestic integrated steel manufacturer, Formosa Ha Tinh is planning to announce price revision in HRC offers for March April shipments towards the end of this week.
Current imported HRC offers to Vietnam-
1. HRC (SAE 1006) 2mm, China- Benxi is offering at USD 480/MT CFR basis in contrast with USD 500/MT CFR basis towards the end of the previous week.
2. HRC (SAE 1006) 2mm, China- Maanshan Steel’s offer is at USD 470/MT CFR basis. The previous offer was at USD 490/MT CFR basis.
3. HRC (SAE 1006) 2mm, China- Rizhao Steel’s offer is at USD 475/MT CFR basis.
4. HR Strip, China- Baotou steel’s offer stands at USD 477/MT CFR basis.
5. No firm offers were heard from India to Vietnam for March shipments
Leave a Reply