Imported HRC Offers to Vietnam Remain Firm
In the beginning of this week imported HRC offers to Vietnam remain stable since buyers have booked few quantities last week in order replenish the stocks in anticipation of further surge in steel prices from major exporting nations.
Thus importers in Vietnam are currently reviewing HRC export offers from China for Aug Sep shipments.
As per market sources, last week Indian steel mills booked around 80,000 MT of HRC with Vietnam for July Aug shipments at USD 508-510/MT, CFR Vietnam last week.
However continual increase in Chinese steel prices amid announced production cuts in Tangshan region may result to uptrend in imported HRC offers to Vietnam shortly.
Current HRC Trades to Vietnam
1.HRC (SAE 1006) 2-3mm/Chinese offer- Benxi Steel is at USD 520/MT CFR Vietnam.
2.HRC (SAE 1006) 2-3mm/Chinese offer- Baosteel is at USD 520/MT CFR Vietnam.
3.HRC (SAE 1006) 2-3mm/Japanese offer- Nippon Steel is at USD 525/MT CFR Vietnam.
4.HRC (SAE 1006) 2-3mm/Indian offer- Indian steel mill offering at USD 515-520/MT CFR Vietnam for Aug sep shipments.
source: SteelMint
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