Imported HRC Offers to Vietnam Subsides Further
This week, imported HRC offers to Vietnam from China inch down further amid lower HRC offers from other exporting nations.Indian steel mills have put their offers on hold. Last offers from mills were reported at USD 430/MT, CFR Vietnam. However offers for positioned cargoes from India is heard around USD 420/MT CFR basis.
Thus,Vietnam based importers continue to prefer Indian and Russian HRC cargoes over China amid competitive prices since last few weeks.
Current HRC offers to Vietnam- Week 42,2019
1.HRC (SAE 1006) 2-3mm/ Chinese offers- Chinese steel mills are offering at USD 440/MT CFR Vietnam as against USD 445/MT CFR basis in the previous week.
2. HRC (SAE 1006) 2-3mm/ South Korean offer- Hyundai steel offering at USD 440/MT CFR Vietnam as against USD 450/MT CFR basis in previous week.
3. HRC (SAE 1006) 2mm/ Japanese offer- Nippon Steel is offering at USD 430 /MT CFR Vietnam as against USD 440/MT CFR offering last week.
4.Vietnamese major steel maker Formosa Ha Tinh is expected to revise its monthly HRC offers by the end of this week. Market sources are expecting a sharp price cut in its offers this month
source: SteelMint
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