Slow Buying Weakens Imported HRC Offers to Vietnam
Market sources shared with SteelMint that imported HRC offers to Vietnam have inched down this week by USD 5/MT. Disparity between HRC export offers from mills in China, India and lower bids resulted to slowdown in buying activities from Vietnam.
Indian steel exporters are offering HRC to Vietnam at around USD 560/MT CFR Vietnam.However buyers are bidding around USD 547-550/MT CFR basis for April shipments.
Meanwhile Chinese HRC export offers witness uptrend on weekly basis over gains in domestic market.Chinese HRC export offers stood around USD 535-540/MT Fob basis which was USD 525-530/MT FoB in previous week.
Current HRC Trade offers to Vietnam - Week 12, 2019
1.HRC (SAE 1006) 2-3mm/Chinese offer - Laiwu Steel is at USD 545/MT CFR Vietnam.Last week the offers was in range of USD 550/MT CFR basis.
2.HRC (SAE 1006) 2-3mm/Chinese offer - Shagang Steel is at USD 545/MT CFR Vietnam.
3.HRC (SAE 1006) 2-3mm/Brazil offer - Arcelor Mittal is at USD 550/MT CFR Vietnam.
4.HRC (SAE 1006) 2-3mm/Indian offer - Indian Steel mills is at USD 560-565/MT CFR Vietnam.
5.Formosa Ha Tinh raises HRC (SAE 1006,skin pass) at USD 550/MT CIF basis and offers of HRC (SS 400) is at USD 545/MT CIF basis for April- May shipments.
source: SteelMint
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