Imported HRC Prices to Vietnam Fall Further in Recent Deals
Trade sources based in Vietnam shared that few deals of positioned cargoes of major Indian steel mills were reported for Vietnam for Aug -Sep shipments.
As per an update received that, position cargo of 5000 MT of HRC was sold at USD 495/MT CFR Vietnam against USD 500-505/MT CFR basis last week.
Position cargoes of 5000 MT of HRC from other major mill was booked at similar levels. Market sources shared that the company booked around 20,000 MT of HRC with Vietnam out of which 15,000 MT of HRC was sold earlier and rest 5000 MT is booked today.
In the beginning of the week end users in Vietnam booked position cargo of 5000 MT of HRC at USD 500/MT CFR basis.
Thus gap between bids and offers continue to widen among end users in Vietnam over competitive offers from China and India.
Current HRC trades to Vietnam- Week 32,2019
1.HRC (SAE 1006) 2-3mm/Chinese offer- Benxi Steel is at USD 500/MT CFR Vietnam.In the beginning of the week offers were around USD 508/MT CFR basis.
2.HRC (SAE 1006) 2-3mm/Chinese offer- Laiwu Steel is at USD 490/MT CFR Vietnam.In the beginning of the week offers were around USD 500/MT CFR basis.
3.HRC (SAE 1006) 2-3mm/India – India offer at USD 495/MT CFR Vietnam.
4.HRC (SAE 1006) 2-3mm/Korean offer- Hyundai Steel is at USD 515/MT CFR Vietnam.
5.HRC (SAE 1006) 2-3mm/Japan offer- Nippon Steel is at USD 520/MT CFR Vietnam.
6.HRC (SAE 1006) 2-3mm/Brazil offer- Arcelor Mittal is at USD 500/MT CFR Vietnam.In the beginning of the week offers were around USD 507/MT CFR basis.
source: SteelMint
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