Indian Mill Concludes 20,000 MT HRC Export Deal to Vietnam
SteelMint in conversation with market sources heard that a last week a major Indian steel mill concluded a deal to Vietnam for May shipments.
As per update received, a private Indian steel mill booked around 20,000 MT HRC (SAE 1006) to Vietnam at around USD 540-545/MT CFR Vietnam for May shipments. Prices have remained majorly stable against last week.
Chinese HRC export offers inch down; domestic prices fall in northern China- Chinese HRC export offers reported marginal decline in beginning of this week.
Currently nation’s HRC export offer is assessed at around USD 535/MT FoB basis. Last week the offers stood at USD 535-545/MT FoB basis.
Domestic prices in eastern China (Shanghai) stood at RMB 4,010-4,020/MT, unchanged against last week. And prices at Northern China stood at RMB 3,920-3,930/MT down by RMB 20/MT D-o-D basis in Northern China (Tangshan).
CIS-origin HRC export offers remain stable amid low demand- Market sources based in CIS nations shared that HRC export offers remained stable this week. Despite low demand and softening market sentiments, mills have kept HRC export offers steady this week. Currently offers from major mills are in the range USD 500-515/MT FoB Black Sea, however trade reference prices are at USD 485-495/MT, FoB Black Sea.
Imported HRC offers to Vietnam remain stable- This week imported HRC offers to Vietnam remain stable after domestic major mill Formosa Ha Tinh announced its HRC prices towards the end of last week for June shipments. Currently imported HRC offers to Vietnam from Chinese mills is around USD 545-555/MT CFR basis.
Formosa announced increase in HRC offers by USD 5/MT for May end June shipments.
source: SteelMint
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