Vietnam - Imported HRC Offers Tumble Over Slump in Chinese Prices
This week imported HRC offers to Vietnam witnessed significant drop by USD 15-25/MT.Thus imported offers are showing constant decline over weakening prices in China’s domestic and export market. Thus in line with China, Indian and Russian mills are also offering to Vietnam on lower side.
Meanwhile Vietnam’s domestic mill - Formosa Ha Tinh has cut HRC offers by USD 30-40/MT and is offering skin pass at USD 530-535/MT CIF Ho Chi Minh City.
On monthly basis, imported HRC offers fell by USD 60-65/MT from China and stood at USD 510/MT CFR basis which was USD 585/MT CFR in end October.
Current HRC trade offers to Vietnam - Week 48, 2018
1. HRC (SAE 1006) 2-3mm / Chinese offer - Benxi Steel is at USD 510/MT CFR Vietnam.Last week the offers stood at USD 525/MT CFR basis.
2.HRC (SAE 1006) 2-3mm / Chinese offer - Xinyu Steel is at USD 495/MT CFR Vietnam.Last week the offers were at USD 510/MT CFR basis.
3.HRC (SAE 1006) 2-3mm / Chinese offer - Laiwu Steel is at USD 510/MT CFR Vietnam.Last week the offers stood at USD 510/MT CFR basis.
4.Confirmed trade deal heard for HRC (SAE 1006) 2-3mm / Chinese offer - Magang Steel offer is at USD 500/MT CFR Vietnam.Concluded a deal of 10,000 MT of HRC with Vietnam based manufacture of cold rolled steel, roofing sheet and galvanized and coated.
5.HRC (SAE 1006) 2-3mm / Korean offers- Hyundai steel is at USD 575/MT CFR Vietnam for small coils.
6. HRC (SAE 1006) 2-3mm / Indian mills offering at USD 520/MT CFR Vietnam.
source: SteelMint
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