Indian HRC Export Offers to Vietnam Up by USD 10

Indian HRC export offers to Vietnam have moved up by USD 10/MT for positioned cargoes for Dec shipments, owing to higher bids from Vietnam buyers. Thus currently Indian HRC offers are at USD 440/MT CFR Vietnam.

Towards the beginning of this week Indian HRC export offers were reported at USD 425-430/MT CFR Vietnam. Last week few deals were reported at USD 422-425/MT CFR Vietnam.

Meanwhile sources in Vietnam shared that, buyers are bidding around USD 435/MT CFR basis. Along with this, domestic integrated steel maker Formosa Ha Tinh is offering steep discounts by USD 25/MT.Thus HRC (SAE 1006, skin pass) is being offered at USD 435/MT CIF basis for Nov deliveries.However the official offers stand around USD 460/MT CIF basis.

Current HRC offers to Vietnam-
1. HRC (SAE 1006) 2mm/ Japanese offer- Nippon Steel is offering at USD 445/MT CFR Vietnam.Previous week offers stood around USD 440/MT CFR basis.

2.HRC (SAE 1006) 2mm/ South Korean offer- Hyundai Steel offers stand around USD 445/MT CFR basis. Previous week offers were around USD 440/MT CFR basis.

3. Currently, no active offers from Russian based MMK steel for Nov- Dec shipments.