Chinese Mill Concludes HRC Export Deal to Vietnam
Vietnam's imported HRC market has observed some trades towards end of this week. Chinese mill have heard to booked 30,000 MT HRC to Vietnam at USD 510/MT CFR Ho Chi Minh for Feb deliveries. China's Bengang Steel Plates Co. Ltd.(a subsidiary of Benxi Steel Group Corporation, incorporated as a joint-stock limited company engaged in the smelting of steel and the rolling and processing of steel plates).
Vietnam sources shared that,” Imported HRC offers to Vietnam from major exporting nations have touched at USD 500-510/MT CFR basis and customers are accepting higher offers amid Formosa's planned shutdown through 30th Dec'19 until 17th Jan'20 ".
Also major Indian steel mills are eyeing for further rise in HRC export offers to Vietnam at around USD 500-505/MT CFR basis for Feb deliveries.
In addition to this, buyers based in Vietnam will start restocking activities ahead of Tet Holidays and Chinese New Year holidays starting from 25th Jan’20.
Current imported HRC offers to Vietnam - Week 52, 2019
1. HRC (SAE 1006) 2mm, China- Rizhao Steel's offer increased to USD 500/MT CFR basis.
2. HRC (SAE 1006) 2mm, South Korea- Hyundai Steel’s offer continues to hover at USD 500/MT CFR basis.
3.HRC (SAE 1006) 2mm,Japan- Nippon Steel offer stood at USD 500/MT CFR basis.
4.Last week confirmed trade deal heard of around 15,000 MT HRC to Vietnam from Indian based major steel mill at USD 495-500/MT CFR basis for Jan-end-Feb deliveries.
5.Vietnam’s domestic steelmaker Formosa Ha Tinh is offering HRC (SAE 1006, skin pass) at around USD 485/MT CIF basis for Feb deliveries.
source: SteelMint
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