Indian Mill Books 50,000 MT HRC for Export to Vietnam
As per the recent conversation of industry participants with SteelMint, major steel manufacturer based in western India booked around 50,000 MT of HRC for export to Vietnam.
The deal price was heard around USD 455/MT CFR Ho Chi Minh for Oct end delivery.
Few days back SteelMint reported that, Indian steelmakers have collectively booked 1,00,000 MT of HRC with Vietnam for exports at USD 455-460/MT CFR Ho Chi Minh for Oct delivery.
Thus Indian steel mills are aggressively exporting HRC to Vietnam over weakening domestic steel prices.
However Chinese steelmakers have kept their HRC export offers largely stable ahead of National Day holidays.
Current imported HRC offer to Vietnam
1. HRC (SAE 1006) 2-3mm/ Chinese offer- Magang is at USD 455/MT CFR Vietnam unchanged over previous week.
2. HRC (SAE 1006) 2mm/ South Korean offer- Hyundai is offering at USD 470/MT CFR basis.
3. HRC (SAE 1006) 2mm/ Russian offer- MMK Steel is offering at USD 441/MT CFR basis (for small coils) and USD 451/MT CFR basis (for big coils).
4. Last week Russia booked around 30,000-40,000 MT of HRC (small coil) to Vietnam at USD 441-442/MT CFR basis.
5. Vietnam’s domestic steel maker Formosa Ha Tinh has slashed its HRC (SAE 1006 skin pass) offers for steel by USD 51/MT and is assessed around USD 480/MT CIF Ho Chi Minh for Nov shipments.
source: SteelMint
Top News
Five last month
Two last year
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Mercuria eyes equity in African assets, new metals boss says
Glencore posts lower metals output for first nine months, reiterates outlook
Gold price surge adds glitter to tarnished miners
Traders see gold as a surefire bet as coin-toss election looms
Anglo American sells Australian coal JV stake for $1.1 billion
Gold price shows little reaction to jobs data
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
Liberty Gold advances Black Pine project permitting
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years