Vietnam : Imported HRC Offers from Chinese Mills Continue Upside
Towards the end of this week imported HRC offers to Vietnam inched up further on the back of hike in offers. However deals at increased offers were not yet reported.
Thus currently imported HRC offers from China have moved up by USD 10/MT to USD 525- 530/MT CFR basis which was USD 515-520/MT CFR basis in the beginning of the week.
Prior this, SteelMint reported that Vietnam based HRC importers concluded a deal of 40,000 MT of HRC with major Indian steel mills at USD 515-520/MT CFR Vietnam for July Aug shipments. Thus Vietnam buyers are switching to Indian HRC amid higher offers from China.
Current HRC Trades to Vietnam- Week 27,2019
1. HRC (SAE 1006) 2-3mm/Chinese offer- Benxi Steel is at USD 530/MT CFR Vietnam for Jul-Aug shipment. In the beginning of the week offers stood at USD 520/MT CFR basis.
2.HRC (SAE 1006) 2-3mm/Chinese offer- Baosteel is at USD 530/MT CFR Vietnam for Jul-Aug shipment. In the beginning of this week offers stood at 520/MT CFR basis.
3.HRC (SAE 1006) 2-3mm/Chinese offer- Laiwu is at USD 525/MT CFR Vietnam for Jul-Aug shipment. In the beginning of this week offers stood at 515/MT CFR basis.
4.HRC (SAE 1006) 2-3mm/Taiwan offer- Chunghung Steel is at USD 545/MT CFR Vietnam for Aug shipment.
5.HRC (SAE 1006) 2-3mm/South Korea offer- Hyundai Steel is at USD 530/MT CFR Vietnam for Aug shipment.
6. HRC (SAE 1006) 2-3mm/Indian offer- At USD 520/MT CFR basis. In the beginning of the week offers stood at USD 515/MT CFR basis.
source: SteelMint
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
