Indian mills have resumed HRC exports to Vietnam after a pause. Recently SteelMint learnt from market participants that a major Indian mill has concluded a deal of 5000 MT of HRC with Vietnam based mill specialized in manufacturing CR, GI, GL, PPGI/GL,trading in HR, steel plate, etc. The deal price is heard around USD 607-610/MT CFR basis for July shipments.
As per previous prices assessment Indian HRC export offers to Vietnam remain largely stable.Previously Indian mill have booked 15,000-20,000 MT HRC for export to Vietnam at around USD 603-610/MT, CFR for June shipment.
However Indian mills have limited allocations for exports as they are currently focusing on domestic sales
As per statistics data maintained with SteelMint,India exported 1.64 MnT of flat steel to Vietnam and accounts for 17.46 MnT of share in CY17.
Current Chinese HRC trade offers to Vietnam as on 5 June’18
1.HRC (SAE 1006) 2-3mm / Chinese offer – Benxi Iron & Steel mill at USD 615/MT, CFR Vietnam. Last week the offer was at USD 610/MT CFR basis.
2.HRC (SAE 1006) 2-3mm / Chinese offer – Rizhao Steel at USD 610 /MT CFR Vietnam.Last week the offers were at USD 603/MT CFR basis.
3.HRC (SAE 1006) 2-3mm / Chinese offer – Magang Steel at USD 607/MT CFR Vietnam.
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