Indian Steel Mill Books 20,000 MT HRC for Export to Vietnam
SteelMint in conversation with market participants shared that a major Indian steel mill have concluded a deal with Vietnam for April end-May shipments.
A major Indian steel mill based in western region booked around 20,000 MT of HRC with Vietnam at USD 541-543/MT CFR Vietnam for April end May shipments.
Prior this, last week end users in Vietnam also booked few quantities of HRC ( big coils) from Russian origin MMK steel at around USD 530-535/MT CFR basis for June shipments as it takes longer time in transportation from Russia to Vietnam.
Meanwhile imported HRC offers to Vietnam from China is at USD 545-550/MT CFR basis
However end users in Vietnam are now waiting for price revision from their domestic steel producer Formosa Ha Tinh for June shipments.
Indian HRC/plates exports in CY18- As per the data maintained with SteelMint ,Indian flat steel exports stood at 5.23 MnT in CY18.Out of which Indian HRC/plate exports to Vietnam stood at 0.47 MnT occupying the share of 9.04% in CY18.
source: SteelMint
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