This week imported HRC offers to Vietnam moved up by USD 5-10/MT in line with uptrend in export offers from Chinese and Indian mills.
Chinese mills are increasing HRC export offers over gains in domestic market. Currently Chinese HRC export offers is heard around USD 525-530/MT FoB basis.
Following this, Indian steel mills have also increased HRC export offers to Vietnam this week. Also mills have raised domestic offers by INR 1000-1500/MT (USD 14-21) for March.
Current HRC Trade offers to Vietnam – Week 10, 2019
1. HRC(SAE 1006) 2-3mm/Chinese offer – Baosteel is at USD 560/MT CFR Vietnam.
2. HRC (SAE 1006) 2-3mm/Chinese offer – Shagang Steel is at USD 550/MT CFR Vietnam.
3. Heard confirmed trade deal of around 6000 MT of HRC booked from Chinese based Laiwu steel to Vietnam at around USD 543/MT CFR basis.
4. HRC (SAE 1006) 2-3mm/Indian offer – Indian Steel mills offering around USD 550-555/MT CFR Vietnam. However buying interest is learned around USD 545-550/MT CFR basis.
5. HRC (SAE 1006) 2-3mm/Japanese offer – Nippon Steel is at USD 580/MT CFR Vietnam.
6. HRC (SAE 1006) 2-3mm/Russia offer – MMK Steel is at USD 560/MT CFR Vietnam.
7. Meanwhile Vietnam’s domestic mill – Formosa Ha Tinh offering its HRC (skin pass, SAE1006) at USD 535/MT CIF basis for March-April shipments.
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