Indian Mill Concludes HRC Export Deal to Vietnam
SteelMint reported early this week that Indian steel mill had raised HRC export offers for Vietnam and in the latest update received, a deal has also been reported recently.
A major private steelmaker booked around 10,000 MT of HRC towards the beginning of the week with Vietnam at around USD 540/MT CFR basis for March shipments.
However, another mill based in eastern region was offering HRC at around USD 525-530/MT CFR basis for March shipments. However no major deal has been confirmed yet at these levels.
However as per trade sources these offers remained firm in the beginning of the week and currently these levels are less viable among end users in Vietnam.Prior this,Indian steel mills were offering HRC to Vietnam at around USD 510-515/MT before Tet holidays.
Imported HRC Offers from China move up post Festive Holidays- Imported HRC offers to Vietnam reported increase this week post festive holidays both in China and Vietnam.
Current HRC Trades to Vietnam - Week 7,2019
1.HRC (SAE 1006) 2-3mm/Chinese offer - Benxi Steel is at USD 550/MT CFR Vietnam.
2.HRC (SAE 1006) 2-3mm/Chinese offer - Rizhao Steel is at USD 535/MT CFR Vietnam.
3.Vietnam's domestic mill Formosa is expected to revise prices early next week.
source: SteelMint
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