Imported HRC Offers to Vietnam Slide Further Over Limited Buying
In the beginning of this week imported HRC offers to Vietnam reported decline as buyers are expecting further downside in prices over volatility in Chinese prices and lower export offers from India amid weakening domestic prices.
Meanwhile lower bids from end users in Vietnam have pushed other exporting nations like Japan and Korea to pull down their offers as buying remained mute on increased prices.
A trader based in Vietnam shared ,”It is difficult to sell material in Vietnam today as buyers have adopted wait and watch mode”.
On weekly basis imported HRC offers lowered by USD 5-10/MT and have witness continual decline since mid of Jul’19.
Current HRC offers to Vietnam- Week 33,2019
1.HRC (SAE 1006) 2-3mm/Chinese offer- Benxi Steel is at USD 488/MT CFR Vietnam.Last week offers were around USD 500/MT CFR basis.
2.HRC (SAE 1006) 2-3mm/Chinese offer- Laiwu Steel is at USD 485/MT CFR Vietnam.Last week offers were around USD 490/MT CFR basis.
3.HRC (SAE 1006) 2-3mm/India – India offer at USD 490/MT CFR Vietnam.Last week the offers was around USD 495/MT CFR basis
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 515/MT CFR Vietnam. Last week offer was around USD 520/MT CFR basis.
6.HRC (SAE 1006) 2-3mm/Brazil offer- Arcelor Mittal is at USD 488/MT CFR Vietnam.Last week offer was around USD 500/MT CFR basis.
source: SteelMint
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