Imported HRC market in Vietnam has observed fewer trades this week, as participants are waiting for price announcement of Formosa- domestic mill of Vietnam. Sources expect Formosa to hike offers by around $10-15/t, although an official announcement is still awaited. Two HRC deals for small parcels were reported to have concluded this week.
A private steel manufacturer has booked 20,000t HRC at $438-440/t CFR Vietnam for July end- Aug shipment, SteelMint learned from its authentic sources based in Vietnam.
In another deal reported this week, another Indian private mill booked a parcel of 15,000-20,000t HRC to Vietnam at $438-439/t CFR basis.
Prior to this, in the previous week, an Indian mill had booked 10,000t HRC at USD $432-435/t CFR basis for July end- Aug delivery.
Current imported HRC (Sae 1006,2mm) offers to Vietnam-
*China- Benxi Steel’s offer stands at $460/t CFR basis. Last week, the offer was around $455/t CFR basis.
*China- Chunghung Steel’s offer stands at $445/t CFR basis.
*Japan- JFE and Nippon steel are offering at $450/t CFR basis.
*South Korea- Hyundai Steel’s offer stands at $450/t CFR basis. Last week the offer was around $445/t CFR basis.
Leave a Reply