This week imported HRC offers to Vietnam remained largely stable after the announcement of the price hike by domestic steelmaker Formosa Ha Tinh for March shipments.
Last week, the mill raised HRC offers by USD 35/MT against last month’s offers and offering at USD 520/MT CIF basis for March deliveries. The last offers were in the range of USD 485/MT CIF basis for Feb shipments.
However Vietnamese integrated steelmaker, Formosa Ha Tinh, undergoing 20 days planned maintenance shutdown at its hot strip mill until 17th Jan’20 with an estimated impact of 35% on the production.
Current Imported HRC Offers to Vietnam-
1. HRC (SAE 1006) 2mm, Japan- Nippon steel offering at USD 525-530/MT CFR basis.
2. HRC (SAE 1006) 2mm, South Korea- Hyundai Steel’s offers stand at USD 520-530/MT CFR basis.
3. HRC (SAE 1006) 2mm, China- Rizhao Steel’s offer continues to hover at USD 517- 520/MT CFR basis.
4. HRC (SAE 1006) 2mm, China- Benxi is offering at USD 525/MT CFR basis.
5. HRC (SAE 1006) 2mm, Taiwan- Chung Hung Steel offering at USD 525- 530/MT CFR basis.
6. HRC (SAE 1006) 2mm, India- Indian steel mills offering at USD 530-535/MT CFR basis stable against previous week offers.
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