Imported HRC Offers to Vietnam Remain Firm

The imported HRC offers to Vietnam remained steady after witnessing decline towards the beginning of the week.

Along with this, yesterday, Vietnamese domestic integrated steel manufacturer Formosa Ha Tinh announced a roll-over in its HRC (skin pass, SAE1006) prices at USD 520/MT for Apr'20 deliveries in anticipation of improved demand in Vietnamese market.

The offers from China are cost-effective compared to domestic prices, but, the hindered logistics and delayed resumption of market activities in the nation have led to bearish market sentiments, and difficulty in transporting material to Vietnam.

Current imported HRC offers to Vietnam-

1. HRC (SAE 1006) 2mm, China- Baosteel is offering at USD 490/MT CFR basis.

2. HRC (SAE 1006) 2mm, China- Benxi is offering at USD 480/MT CFR basis.

3. HRC (SAE 1006) 2mm, China- Maanshan Steel's offer is at USD 470/MT CFR basis.

4. HRC (SAE 1006) 2mm, China- Rizhao Steel's offer is at USD 470-475/MT CFR basis.

5. HRC (SAE 1006) 2mm, China- Chunghung Steel's offer is at USD 500/MT CFR basis.

6. HRC (SAE 1006) 2mm, China- Laiwu Steel's offer is at USD 475-477/MT CFR basis.

7. HRC (SAE 1006) 2mm, South Korea- Hyundai Steel's offer is at USD 485/MT CFR basis.

8. HRC (SS400), China- Anfeng Steel's offer is at USD 465/MT CFR basis.

9. No firm offers from Indian mills.