Imported HRC offers for Vietnam remained largely unchanged after witnessing the hike of around $10-15/t in the last week. Offers increased on rising global HRC prices as the sentiments started improving in various exporting nations.
However, this week, the market sentiments remained soft and importers are currently observing the market and will gradually start bidding, SteelMint learned from market participants.
Deals reported in the previous week-
— China’s prominent steel manufacturer Baosteel booked 20,000t HRC for export at $450/t CFR Vietnam for Aug deliveries.
Current imported HRC (SAE 1006, 2mm) offers for Vietnam-
— China– Benxi steel offer stands at $465-470/t CFR basis.
— China- Chung Hung steel offer stands at $450/t CFR basis.
— China- Baosteel is offering at $455/t CFR basis.
— Japan- Nippon steel and JFE are offering at $460/t CFR basis.
— South Korea- Hyundai Steel offer stands at $465/t CFR basis.
–India- Major Indian steel mills are offering HRC to Vietnam at around USD 445- 450/t CFR basis.
–Vietnam- domestic steel mill Formosa Ha Tinh raised its prices last week by around $ 25/t and offering HRC (SAE 1006, skin pass) at $455/t CIF basis and non-skin pass at $450/t CIF basis for Aug delivery.
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