SteelMint in conversation with Vietnam based importers learned that major Chinese steel maker,Baosteel has booked 70,000 MT HRC yesterday with Vietnam based steel mill at USD 470/MT CFR basis for March end- April shipments. The offers are lower by USD 8/MT against the deal booked last week at USD 478/MT CFR basis.Thus Chinese HRC export offers fell towards the end of this week on higher inventories.
Imported HRC offers to Vietnam from India – HRC offers to Vietnam decline by USD 10-15/MT following slump in export offers from major exporting nations. Few offers from traders were heard around USD 485-490/MT CFR Vietnam. However, buyers are less interested to book the material with India as offers continue to remain on higher side.
–HRC (SAE 1006, 2mm), China- Baosteel’s offer stands at USD 470/MT CFR basis. Offer at the beginning of the week- USD 478/MT CFR basis.
–HRC (SAE 1006, 2mm), China- Benxi is offering at USD 472/MT CFR basis. Previous offer- USD 478/MT CFR basis.
–HRC (SAE 1006, 2mm), China- Anfeng is offering at USD 460/MT CFR basis.
–HRC (SAE 1006, 2mm), Japan- Nippon steel’s offer lowered to USD 490/MT CFR basis. Previous offer- USD 495/MT CFR basis.
–HRC (SAE 1006, 2mm), South Korea- Hyundai steel is offering at USD 485/MT CFR basis. Previous offer- USD 495/MT.
–Vietnamese domestic integrated steel manufacturer Formosa Ha Tinh offering HRC (skin pass, SAE1006) prices at USD 520/MT for Apr’20 deliveries.
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