Vietnam: Imported HRC Market Remains Firm
This week imported HRC offers inched down further over weaker buying sentiments and lower bids from buyers in Vietnam on large no. of offers. Last week few deals of positioned cargo of Indian origin was sold at USD 505-510/MT, CFR basis.
Meanwhile Indian steel mills have also lowered their offers for end users in Vietnam for Aug -Sep shipments. Also Vietnamese mills are preferring imported HRC from India over cheaper offers compared to steel mills in China.
Current HRC trades to Vietnam- Week 30, 2019
1.HRC (SAE 1006) 2-3mm/Chinese offer- Benxi Steel is at USD 520/MT CFR Vietnam.
2.HRC (SAE 1006) 2-3mm/Japanese offer- Nippon Steel is at USD 540/MT CFR Vietnam.
3.HRC (SAE 1006) 2-3mm/India – India offer at USD 505-510/MT CFR Vietnam.
4.HRC (SAE 1006) 2-3mm/Korean offer- Hyundai Steel is at USD 530/MT CFR Vietnam.
5.HRC (SAE 1006) 2-3mm/Russian offer- MMK Steel is at USD 520/MT CFR Vietnam.
6.HRC (SAE 1006) 2-3mm/Brazil offer- Arcelor Mittal Steel is at USD 520/MT CFR Vietnam.
source: SteelMint
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