Vietnam: Imported HRC Prices Soften Further in Recent Deals
In conversation with market sources based in Vietnam, SteelMint analyzed that imported HRC prices to Vietnam soften further by around USD 10-15/MT towards the end of this week amid lower bids from end users in Vietnam.
Thus steelmakers in China and India concluded few deals with buyers based in Vietnam around USD 505/MT CFR basis.
Current HRC trades to Vietnam- Week 31, 2019
1.Confirmed trade deal heard of around 10,000 MT of HRC booked by Chinese steelmaker Rizhao steel at USD 505/MT CFR basis for September shipments.
2. Confirmed trade deal heard of positioned cargo booked around 5,000 MT of Indian HRC in range of USD 503-505/MT CFR basis for Aug end shipments.
3.HRC (SAE 1006) 2-3mm/Chinese offer- Baosteel Steel is at USD 515/MT CFR Vietnam.
4.HRC (SAE 1006) 2-3mm/Chinese offer- Laiwu at USD 505/MT CFR Vietnam.
5.HRC (SAE 1006) 2-3mm/Japanese offer- Nippon Steel is at USD 520/MT CFR Vietnam.In the beginning of the week offers were around USD 540/MT CFR basis.
6.HRC (SAE 1006) 2-3mm/Brazil offer- Arcelor Mittal is at USD 507/MT CFR Vietnam.In the beginning of the week offers were around USD 520/MT CFR basis.
7.HRC (SAE 1006) 2-3mm/Russian offer- MMK Steel is at USD 510/MT CFR Vietnam.In the beginning of the week offers were around USD 520/MT CFR basis.
8.HRC (SAE 1006) 2-3mm/Korean offer- Hyundai Steel is at USD 520/MT CFR Vietnam.In the beginning of the week offers were around USD 530/MT CFR basis.
source: SteelMint
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