Indian Steel Mills Lower HRC Export Offers to Vietnam
Market sources in conversation with SteelMint shared that imported HRC offers to Vietnam have inched down this week by USD 5-10/MT amid competitive offers from steel mills in China.
Meanwhile Vietnam’s domestic steel producer Formosa Ha Tinh is also offering HRC to end users in Vietnam at similar range.
Currently major Indian steel mills are offering HRC to Vietnam at around USD 550-555/ MT CFR Vietnam which was assessed at USD 560/MT CFR Vietnam in the previous week.However no major deals being concluded at revised offers.
Meanwhile Chinese steel mills are also offering imported HRC to Vietnam at USD 542-550/MT CFR basis.
And Vietnam’s domestic integrated steel producer Formosa Ha Tinh offering HRC (SAE 1006,skin pass) at USD 550/MT CIF basis for April- May shipments. Thus buyers in Vietnam will give preference to domestic material over imported ones amid easy availability.
A trader based in Vietnam shared that, "End users in Vietnam are in wait and watch mode as they are expecting imported HRC offers below USD 545/MT CFR”
Current HRC Trade offers to Vietnam - Week 13, 2019
1. HRC (SAE 1006) 2-3mm/Chinese offer - Benxi Iron & Steel is at USD 550/MT CFR Vietnam.
2. HRC (SAE 1006) 2-3mm/Chinese offer - Laiwu Steel is at USD 542/MT CFR Vietnam.Last week the offers was in range of USD 545/MT CFR basis.
3. HRC (SAE 1006) 2-3mm/Chinese offer - Rizhao Steel is at USD 547/MT CFR Vietnam.
4. HRC (SAE 1006) 2-3mm/Brazil offer - Arcelor Mittal is at USD 547/MT CFR Vietnam last week offers were around 550/MT CFR Vietnam.
5. No active offers for imported HRC from Japan and Korea have been heard yet.
source: SteelMint
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