Chinese Mill Concludes 70,000 MT HRC Export Deal to Vietnam
Imported HRC prices to Vietnam fell further towards the weekend in recent deal being concluded from China. Market sources in Vietnam shared that major steelmaker in China named - Baosteel booked another cargo of 70,000 MT HRC (SAE 1006) for exports to Vietnam at USD 470/MT CFR Vietnam for March shipment.
Prior to this, SteelMint reported that last week that the same company had booked 20,000 MT HRC (SAE 1006) to Vietnam for March deliveries at USD 480/MT CFR basis. Thus, imported HRC prices to Vietnam from China fell by USD 5-10/MT compared to the previous week following decline in export offers from China amid coronavirus outbreak.
However, with the gradual resumption of Chinese steelmakers to market domestic prices have started to gain momentum towards the end of this week.
Current imported HRC offers to Vietnam-
1. HRC (SAE 1006) 2mm, China- Benxi is offering at USD 470/MT CFR basis. At the beginning of the week, Benxi was offering at USD 475/MT CFR basis.
2. HRC (SAE 1006) 2mm, China- Baosteel offer is at USD 470/MT CFR basis. The prior offer was at USD 475/MT CFR basis.
3. HRC (SAE 1006) 2mm, China- Chunghung Steel’s offer is at USD 490/MT CFR basis. Last week the offers were at USD 500/MT CFR basis.
4. HRC (SAE 1006) 2mm, China- Rizhao Steel’s offer is at USD 465/MT CFR basis. At the beginning of the week, offers were in the range of USD 470/MT CFR basis.
5. HRC (SAE 1006) 2mm, Japan- Nippon Steel is offering at USD 500/MT CFR basis.
6. HRC (SAE 1006) 2mm, South Korea- Hyundai Steel is offering at USD 495/MT CFR basis.
7. HRC (SAE 1006) 2mm, Russia- MMK Steel is offering at USD 475/MT CFR basis.
8. Vietnamese domestic integrated steel manufacturer Formosa Ha Tinh kept its HRC (skin pass, SAE1006) prices unchanged at USD 520/MT for Apr’20 deliveries.
source: SteelMint
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