Indian Steel Mill Books 40,000 MT HRC for Export to Vietnam
SteelMint in conversation with traders based in Vietnam shared that a major Indian steel mill recently booked HRC cargoes for export to Vietnam for Sep or early Oct shipments.
As per an update received, major Indian steelmaker based in eastern region booked around 40,000 MT of HRC with end users based in Vietnam at USD 477/MT CFR Vietnam for Sep or early Oct shipments.
Prior to this, major Indian steelmaker booked around 60,000 MT of HRC (positioned cargoes) with Vietnam based end users at around USD 475/MT CFR Vietnam for Sep shipments.
Vietnam has became a major destination for Indian HRC exports since last couple of months over active buying from end users based in Vietnam over competitive offers.Also Indian mills are struggling with increased inventories amid dull demand and therefore trying to push volumes in export.
JSW Steel sale-able steel sales stood at 3.75 MnT in Q1FY20 move down by 13% as compared to 4.29 MnT in previous quarter.The company fell short of sales guidance by 2,50,000 MT.
As per concall highlights SAIL mentioned that finished steel inventory stood around 1.5 MnT by end of June quarter.Thus finished steel inventory increased by 2.88 lakh tonnes in Q1 FY20 against previous quarter.
Indian HRC/Plate export volumes to Vietnam - As per the data maintained with SteelMint, Indian HRC export volumes stood at 3.12 MnT in Jan-May’19.Out of which India exported 0.64 MnT of HRC/Plate to Vietnam occupying the share of 33.27% in Jan-May’19.
source: SteelMint
Top News
Glencore in talks to sell Philippine copper smelting unit
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Mercuria partners with Zambia on metals trading venture
Iron ore price weakens as Australia flags return to sub-$100 prices
Arcadium Lithium investors sue miner over Rio Tinto takeover
Rio Tinto, BHP, and BlueScope to build ‘green iron’ plant
Triple Flag to acquire royalty on Tres Quebradas lithium project
Aluminum price falls to one-month low in wider commodity slump
Gemfields says unrest could disrupt Mozambique ruby mine
Iron ore price rises on pre-holiday restocking, China stimulus hopes
Canada invests $70m in Seymour Lake lithium project in Ontario
Solar, EVs and a big exit from coal: 2024’s good climate news
Gold price steadies as traders focus on uncertain 2025 rate path
Lithium suppliers seek to rein in price discounts in 2025 talks
Nigeria resumes mining in Zamfara state on improved security
Midnight Sun receives exploration license renewal for Solwezi copper project in Zambia
Lithium Americas and GM close joint venture for Thacker Pass mine
Gold price slips as traders weigh outlook for Fed interest rate cuts
Gemfields says unrest could disrupt Mozambique ruby mine
Iron ore price rises on pre-holiday restocking, China stimulus hopes
Canada invests $70m in Seymour Lake lithium project in Ontario
Solar, EVs and a big exit from coal: 2024’s good climate news
Gold price steadies as traders focus on uncertain 2025 rate path
Lithium suppliers seek to rein in price discounts in 2025 talks
Nigeria resumes mining in Zamfara state on improved security
Midnight Sun receives exploration license renewal for Solwezi copper project in Zambia
Lithium Americas and GM close joint venture for Thacker Pass mine