Indian steel mills have raised HRC export offers to Vietnam by USD 10-15/MT this week, SteelMint learned from market participants. After the hike, current HRC export offers from India is hovering around USD 510-515/MT CFR Vietnam for Feb'20 shipments.
Indian steel mills have raised HRC export offers to Vietnam by USD 10-15/MT this week, SteelMint learned from market participants. After the hike, current HRC export offers from India is hovering around USD 510-515/MT CFR Vietnam for Feb'20 shipments.
SteelMint had reported last week that there are further chances of hike in offers owing to scheduled maintenance shutdown at Formosa Ha Tinh. Amid lower domestic availability with Formosa Ha Tinh's planned maintenance shutdown until 17th Jan'19, imported HRC offers to Vietnam have witnessed an increase. As per sources, Formosa has closed bookings at its last floated offers for Feb'20.
In similar lines, Chinese steel mills have also increased their offers by USD 10/MT. Also, new year holidays in Vietnam and China in the upcoming month can result in further increment in offers, as importers based in Vietnam will restock material aggressively before holidays.
Current HRC export offers to Vietnam
1. HRC (SAE 1006) 2mm, China - Chinese steel mills offers stood at USD 510/MT CFR. Last week's offers were at USD 500/MT CFR basis.
2. HRC (SAE 1006) 2mm, South Korea- Hyundai Steel offers remain consistent with the previous offer at USD 500/MT CFR basis.
3. HRC (SAE 1006) 2mm, Japan- Nippon Steel offer stood at USD 500/MT CFR basis, stable against the previous week offers.
4. Last week Chinese mill concluded an export deal of 30,000 MT HRC to Vietnam at USD 510/MT CFR Ho Chi Minh for 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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