Vietnam's Formosa Hikes HRC Price by USD 25 for September
Vietnam’s domestic steel producer - Formosa Ha Tinh has today announced its monthly revision in its steel prices. The company has raised its HRC offers sharply by USD 25/MT for Sept shipments.
According to sources, revised offers for HRC (SAE 1006 skin pass) is assessed around at USD 541/MT CIF Ho Chi Minh city against last month’s offer of USD 516/MT CIF basis.
Meanwhile, offers for HRC of (non-skin pass) stood at USD 536/MT, CIF basis. Last month the company was offering the same grade at USD 511/MT CIF basis.
Current offers of imported HRC from Chinese steel mills is around USD 505-515/MT CFR basis. Meanwhile, Indian mills are offering HRC at around USD 510-515/MT CFR Vietnam.
Imported HRC offers to Vietnam from China increased to USD 525-530/MT, CFR basis towards beginning of Jul'19, up by USD 20-25/MT against offers in mid June'19.
Last month the company announced reduction in sales volumes of finished steel towards the end of Jun’19 in order to prevent further losses amid higher raw material cost. This led Vietnam based mills to procure HRC from Chinese and Indian mills. Towards beginning of July, Indian steelmakers were actively exploring export options and had collectively booked around 150,000 MT of HRC majorly to Vietnam for July-Aug shipments, SteelMint learned from market sources.
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
