Imported HRC Offers to Vietnam Remain Firm

This week imported HRC offers to Vietnam remain firm from China. Towards end of last week Indian steel mills raised HRC export offers for Vietnam by USD 10/MT for March shipments.

Meanwhile domestic producer Formosa Ha Tinh also increased its HRC (skin pass, SAE1006) offers by USD 35/MT M-o-M basis and current offers stand at USD 535/MT CIF basis for March-April shipments.

Current HRC Trade offers to Vietnam - Week 9, 2019
1.HRC (SAE 1006) 2-3mm/Chinese offer - Laiwu Steel is at USD 545/MT CFR Vietnam.

2.HRC (SAE 1006) 2-3mm/Chinese offer - Angang Steel is at USD 550/MT CFR Vietnam.

3.HRC (SAE 1006) 2-3mm/Indian offer - Indian Steel mills is at around USD 545/MT CFR Vietnam.

4.Heard Vietnam's domestic mill Formosa has shut down one of its Blast Furnace which will impact HRC availability in Vietnam. Thus end users in Vietnam are likely to actively book HRC from Indian and Chinese mills.

5.Currently no active offers for imported HRC from Japanese and Korean mills were heard to Vietnam.