Vietnam Mills Books 30,000 MT HRC from Russia
Imported HRC offers to Vietnam inched up this week following uptrend in export offers from China. On weekly basis imported HRC offer to Vietnam inch up by USD 5/MT from China.
A confirmed trade deal of around 30,000 MT of imported HRC ( big coils) with Russian based MMK steel was reported at around USD 530-535/MT CFR Vietnam. As per sources report to SteelMint, deals concluded by Hoa Phat and Minh Ngoc for June shipments as it takes longer time in transportation.
Currently Chinese HRC export offers is hovering at USD 530-535/MT FoB China.Last week the same stood around USD 525-530/MT FoB basis.
Current HRC Trade offers to Vietnam - Week 15, 2019
1.HRC (SAE 1006) 2-3mm/Chinese offer - Laiwu Steel is at USD 545/MT CFR Vietnam. Last week the offers were at USD 543/MT CFR basis for May shipments.
2.HRC (SAE 1006) 2-3mm/Chinese offer - Magang Steel is at USD 545/MT CFR Vietnam for May shipments.
3.HRC (SAE 1006) 2-3mm/Chinese offer - Shagang Steel is at USD 555/MT CFR Vietnam for May shipments.
4.HRC (SAE 1006) 2-3mm/Brazil offer - Arcelor Mittal is at USD 540/MT CFR Vietnam for May shipments.
5.HRC (SAE 1006) 2-3mm/Indian offer - JSW Steel is at USD 545/MT CFR Vietnam for May shipments.No major deal concluded yet
6.HRC (SAE 1006) 2-3mm/Indian offer - Essar Steel is at USD 545/MT CFR Vietnam for May shipments.No major deal concluded yet
End users in Vietnam are currently holding enough inventories and are not in the hurry to procure more material, as per reports.
source: SteelMint
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