Imported HRC Offers to Vietnam Slump Further Amid Lower Bids
Imported HRC offers to Vietnam reported further decline as end users in Vietnam are bidding on lower side. Thus disparity between bids and offers resulted to softening imported HRC offers to Vietnam for June -July shipments.
Offers declined by USD 10-15/MT against the offers in commencement of this week.
In addition to this, Chinese mills have reduced their HRC exports offer and are offering at USD 510-515/MT FoB basis amid trade spat with USA along with depreciated Yuan against USD.
Current HRC trades to Vietnam - Week 21, 2019
1. HRC (SAE 1006) 2-3mm/Chinese offer- Bao Steel is at USD 520/MT CFR Vietnam. Towards the end of previous week the offer was at USD 535/MT CFR basis.
2. HRC (SAE 1006) 2-3mm/Chinese offer- Angang Steel is at USD 510/MT CFR Vietnam. In the beginning of this week the offer was at USD 516-520/MT CFR basis.
3. HRC (SAE 1006) 2-3mm/Chinese offer- Benxi Steel is at USD 520/MT CFR Vietnam which stood at USD 527/MT CFR basis in beginning of the week.
4. HRC (SAE 1006) 2-3mm/Chinese offer- Laiwu Steel is at USD 510/MT CFR Vietnam.
5. HRC (SAE 1006) 2-3mm/Taiwan offer- ChungHung Steel is at USD 535/MT CFR Vietnam.
6. HRC (SAE 1006) 2-3mm/Indian offer- JSW Steel is at USD 525/MT CFR Vietnam. In the starting of this week the offer was at USD 530/MT CFR basis.
7. HRC (SAE 1006) 2-3mm /Indian offer- Essar steel is at USD 525-530/MT CFR Vietnam.
8. HRC (SAE 1006) 2-3mm/Korean offer- Hyundai Steel is at USD 525/MT.
9. HRC (SAE 1006) 2-3mm/Japanese offer- Nippon Steel is at USD 540-545/MT CFR basis.
10. HRC (SAE 1006, big coils) 2-3mm/Russian offer- MMK steel is at USD 510/MT CFR basis for July Aug shipment.
11. HRC (SAE 1006) 2-3mm/Turkey offer at USD 525/MT CFR basis.
12. Vietnam’s domestic steel producer- Formosa Ha Tinh had announced reduction in its HRC offer (skin pass) by USD 15/MT for June end -July shipments and offering at USD 541/MT CIF Ho Chi Minh City.
source: SteelMint
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