Indian Steel Mills Raise HRC Export Offers To Vietnam
SteelMint learned from market sources that major Indian steel mills have raised HRC export offers for Vietnam by USD 5-10/MT looking at rebounding in demand in overseas market.
As per update received, current HRC export offers from India to Vietnam is heard around USD 505-515/MT CFR Vietnam which was USD 495-500/MT CFR basis in previous week. However no major deals have been reported yet in revised offers.
Imported HRC offers to Vietnam uptick from China- This week China steel market opened with uptrend in steel prices which fuelled positive buying sentiments and rebound in steel prices both in domestic and global market.
Thus imported HRC offers to Vietnam from China moved up by USD 5-10/MT and are heard at USD 495-510/MT CFR basis which was USD 490-500/MT CFR basis in previous week.
Prior this, last week Chinese based major steelmaker Baosteel booked HRC of around 10,000 MT with Vietnam based Hao Sen (producing galvanized steel and pre-painted coils) at USD 500/MT CFR basis for early August shipment.
Current HRC trades to Vietnam - Week 26, 2019
1. HRC (SAE 1006) 2-3mm/Chinese offer- Benxi Steel is at USD 510/MT CFR Vietnam. Last week the offers was around USD 505/MT CFR basis.
2. HRC (SAE 1006) 2-3mm/Chinese offer- Laiwu Steel is at USD 495/MT CFR Vietnam. Last offers were heard around USD 490/MT CFR basis
3. HRC (SAE 1006) 2-3mm/Japanese offer- Nippon Steel is at USD 520/MT CFR basis.
4. Currently no fresh offers heard from CIS nations for August shipments.
5. Formosa HRC (SAE1006, skin pass) offers stood at USD 516/MT CFR basis for July Aug shipments.
source: SteelMint
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