Imported HRC offers from Chinese mills to Vietnam moved up this week by USD 5-10/MT W-o-W. Last week the offers remained unchanged amid weak buying. However this week offers in Vietnam inched up owing to tight supply amid steel capacity cuts in China.
Currently imported HRC offers from China were at USD 607-620/MT,CFR Vietnam for August shipments. Last week the offers stood at the levels of USD 603-610/MT,CFR basis.
A trader based in Vietnam commented “Buyers are reluctant to purchase the material at higher prices and are waiting to have clear outlook of the prices. This has resulted in weak demand”
Current HRC trade offers to Vietnam
1.HRC (SAE 1006) 2-3mm / Chinese offer – Benxi Iron & Steel mill at USD 615/MT, CFR Vietnam. Last week the offer was at USD 610/MT CFR basis.
2.HRC (SAE 1006) 2-3mm / Chinese offer – Rizhao Steel at USD 610 /MT CFR Vietnam.Last week the offers were at USD 603/MT CFR basis.
3.HRC (SAE 1006) 2-3mm / Chinese offer – Magang Steel at USD 607/MT CFR Vietnam.
4.HRC (SAE 1006) 2-3mm / Vietnam market: Confirmed trade heard by market sources at USD 620 /MT CFR for 20,000 MT sold by China’s major steel mill.
5.HRC (SAE 1006) 2-3 mm/Ukraine offer-Met-invest Steel at USD 593/MT CFR Vietnam.
6.HRC (SAE 1006) 2-3 mm/Japanese offer at USD 650/MT CFR Vietnam.
Vietnam’s domestic steel producer Formosa HRC offers at USD 615/MT CFR basis. Also imported HRC offers are coming at par which may reduce the dependency of imported material among end users in Vietnam.
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