Vietnam’s Formosa Marginally Raise HRC Offers
Vietnam’s domestic steel producer - Formosa Ha Tinh have recently announced revision in its steel prices today. The company have inched up its HRC offers by USD 5/MT for May end June shipments.
According to sources, offers for HRC (SAE 1006 skin pass) is currently assessed around at USD 556/MT CIF Ho Chi Minh City. And HRC of SS400 grade is at USD 551/MT,CIF basis.
Prior this company increased its HRC (SAE 1006 skin pass) offers by USD 15/MT.
Thus competitive offers for imported HRC from China,India and Russia leads to uptick in Formosa’s HRC offers for May-end June shipments.
Offers from Indian and Chinese steel mills is around USD 545-550/MT CFR basis.However offers from Russian mills are on lower side which is around USD 525-535/MT CFR basis.
Current HRC trades to Vietnam - Week 16,2019
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 545/MT CFR Vietnam. In the beginning of the week offers were at USD 550/MT CFR basis.
3.HRC (SAE 1006) 2-3mm/Chinese offer - Laiwu Steel is at USD 540/MT CFR Vietnam.
4.HRC (SAE 1006) 2-3mm/Indian offer - Essar Steel is at USD 540/MT CFR Vietnam.In the beginning of the week offers were at USD 541-543/Mt CFR basis.
5.Confirmed trade deal of around 30,000-40,000 MT of HRC (SAE 1006) 2-3mm have been booked with Arcelor Mittal by a major steel importer Hoa Sen (producing galvanized and color coated coils) at USD 540/MT CFR Vietnam.
6.HRC (SAE 1006) 2-3mm(small coils) /Russian offer - MMK Steel is at USD 525/MT CFR Vietnam for June end shipments.In the beginning of the week offers for HRC (bisg coils) were around USD 533-535/MT CFR basis.
source: SteelMint
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