Imported HRC Offers to Vietnam Slump Further
This week imported HRC offers to Vietnam slumped further amid weakening HRC export offers from China. Chinese HRC export offers continued to remain on downside and hovering at USD 500/MT FoB China.
Meanwhile few trade sources shared that increased supply of imported material to Vietnam leads to fall in HRC offers from major exporting nations.
Also softening overseas demand amid USA China trade spat affected HRC trades to Vietnam from China.
Current HRC trades to Vietnam - Week 23, 2019
1. HRC (SAE 1006) 2-3mm/Chinese offer- Bao Steel is at USD 510/MT CFR Vietnam.Last week the offers was at USD 515/MT CFR basis.
2. HRC (SAE 1006) 2-3mm/Chinese offer- Laiwu Steel is at USD 500/MT CFR Vietnam. Last week offers were around USD 505/MT CFR basis.
3. HRC (SAE 1006) 2-3mm/Chinese offer- Angang Steel is at USD 510/MT.
4. HRC (SAE 1006) 2-3mm/Japanese offer- Nippon Steel is at USD 535/MT.
5. HRC (SAE 1006) 2-3mm/Japanese offer- JFE Steel is at USD 535/MT.
6. HRC (SAE 1006) 2-3mm/Japanese offer- Kobe Steel is at USD 510/MT. Confirmed trade deal heard of around 10,000 MT of HRC with Kobe steel at USD 510/MT CFR for July shipments.
7. HRC (SAE 1006) 2-3mm/Indian offer- TATA Steel is at USD 510/MT.
8. Vietnam’s domestic steel producer- Formosa Ha Tinh offering HRC (SAE 1006, skin pass) at USD 541/MT CIF Ho Chi Minh City for June end July shipments.
source: SteelMint
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