A Japan based major steel manufacturer has concluded a deal of around 30,000 MT of HRC in last 3-4 days for exports to Vietnam, SteelMint learned from a few of its trusted sources. The deal price was assessed at around USD 399-405/MT CFR basis. Thus the imported HRC offers from Japan declined by USD 10-15/MT W-o-W in comparison with USD 415/MT CFR basis in the previous week.
— Last week, a major Indian steelmaker also booked around 20,000 MT of HRC to Vietnam at USD 390-393/MT CFR basis for June shipments.
— Low priced imports from India and Russia can be attributed to the fall in offers from Japan.
Current imported HRC offers to Vietnam
— HRC (SAE 1006, 2mm), China- Benxi Steel’s offer at USD 408-410/MT CFR basis.
— HRC (SAE 1006, 2mm), China- Chunghung Steel is offering at USD 400-405/MT CFR basis.
— HRC (SAE 1006, 2mm), South Korea- Hyundai Steel’s offer continues to hover at USD 415/MT CFR basis.
— HRC (SAE 1006, 2mm), India- Indian steel mills are offering at USD 390-393/MT CFR basis.
— HRC (SAE 1006, 2mm), Russia- MMK is offered at USD 390/MT CFR basis.
–The domestic manufacturer Formosa Ha Tinh continued to remain in the buzz as they are offering HRC (skin pass) at USD 420/MT CIF basis, and non-skin pass at USD 415/MT CIF basis.
–The company is heard to be negotiating individually with customers after deferring the price announcement for June delivery products.
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