Imported HRC offers to Vietnam from Chinese and Indian mills have remained stable owing to bleak demand prevailing among end users in Vietnam.
Also production cuts in China has made mills to focus in domestic sales amid high prices. Meanwhile few deals have been concluded by Indian mills as they are also focusing in domestic market amid improved demand and high prices.
Russian steel mills are offering HRC exports on comparatively lower rates. Amid decline in import prices over imposition of tariffs in Turkey which is prominent importer of CIS flat steel, sellers have reduced offers.
Current HRC trade offers to Vietnam – Week 37, 2018
1.HRC (SAE 1006) 2-3mm / Chinese offer – Benxi Steel is at USD 600/MT CFR Vietnam.
2.HRC (SAE 1006) 2-3mm / Chinese offer – Rizhao Steel Offer at USD 595/MT CFR basis.
3.HRC (SAE 1006) 2-3mm / Chinese offer – Magang Steel Offer at USD 585/MT CFR basis.
4.HRC (SAE 1006) 2-3mm / Chinese offer – Wuhan Iron & Steel Industry Steel offer at USD 600/MT CFR basis.
5.HRC (SAE 1006) 2-3mm / Russian offer – MMK Steel offer at USD 575-585/MT CFR basis.
6.HRC (SAE 1006)) 2-3mm/ Korean offer- Hyundai Steel offer at USD 620/MT CFR basis.
7.HRC (SAE 1006)) 2-3mm/ Indian offer- major Indian mills offer at USD 585/MT CFR basis.
8.HRC (SAE1006) 2-3mm/Vietnam offer- confirm trade deal heard from market participant that Nam Kim Steel has booked 5000 MT from Indian producer Essar Steel at USD 585/MT CFR for October shipments.
9.Last week a major mill based in western India has booked a vessel of around 10-25,000 MT HRC (SAE 1006) to Vietnam in the range of USD 585-590/MT CFR basis for October shipments.
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