Imported HRC Offers to Vietnam Increase Further; Limited Deals Reported

Imported HRC offers to Vietnam have moved up by around USD 5-10/MT W-o-W for Feb deliveries, SteelMint learned from market sources. Offers from all major countries have increased this week.

Thus Vietnamese buyers are actively seeking imported HRC bookings amid supply constraints from domestic integrated steel mill Formosa Ha Tinh owing to planned shutdown in its hot strip mill until 17th Jan'20.However company officials shared they will recover the affected production volume in Feb'20 post holidays.

Also, with the New Year holidays commencing from 25th Jan'20 onwards in Vietnam can result to restocking activities which in turn may further increase HRC offers from major exporting nations. Meanwhile Indian HRC exporters also eyeing for higher HRC export offers to Vietnam in the back of strong sentiments hovering in the domestic market.

Also as per information received, towards the end of the previous week a South Korean based major steel mill booked deal for around 20,000 MT of HRC with Vietnam at USD 500-510/MT CFR Vietnam for Feb delivery.

Current imported HRC Offers to Vietnam-

1.HRC (SAE 1006) 2mm, China- Rizhao steel offer stood at USD 510/MT CFR. Last week offers was heard around INR 500/MT CFR basis.

2.HRC (SAE 1006) 2mm,China- Benxi is offering at USD 510-515/MT CFR basis.

3.HRC (SAE 1006) 2mm, South Korea- Hyundai Steel offers at USD 510/MT CFR basis. Last week the offer was at USD 500/MT CFR basis.

4.HRC (SAE 1006) 2mm, Japan- Nippon Steel offer stood at USD 510/MT CFR basis. Previous week offers was at USD 500/MT.

5.HRC (SAE 1006) 2mm, India- Indian steel mills are offering at USD 520/MT CFR basis.

6.HRC (SAE 1006) 2mm, Taiwan- Taiwan origin HRC being offered at USD 523-525/MT CFR basis.