Imported HRC offers in Vietnam have remained largely stable towards the beginning of this week. Last week, Formosa Ha Tinh had announced a steep hike in its HRC monthly prices by around $45-50/t for Nov delivery last week on higher imported offers. Company is offering HRC (skin pass) at $550/t CIF basis and non-skin pass at $545/t CIF basis.
However, after recording a steep hike since the past few days, imported HRC offers remain largely stable, since buyers have adopted a wait and watch approach.
Meanwhile imported HRC and domestic offers have come at par due to which buyers may prefer local material over imported.
Also, Indian steel mills are eyeing for higher export offers for Nov shipments on strong domestic prices. Thus, they have held the offers currently and are likely to announce fresh offers shortly.
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