Imported HRC Offers to Vietnam Remain Moderate

In a recent conversation with Vietnam based HRC participants, SteelMint learned that the imported HRC offers remained largely stable this week on limited trades heard in the market. Prior this, Chinese steelmakers had raised HRC export offers were propelled by Chinese government to resume back to work which resulted to an uptrend in the nation's HRC export offers towards the end of last week.

However, slowdown in trades from China impacted imported HRC offers to Vietnam this week.

Current HRC offers to Vietnam-

-- HRC (SAE 1006, 2mm), China- Baosteel's offer stands at USD 470/MT CFR basis, consistent against offers towards the previous weekend.

-- HRC (SAE 1006, 2mm), China- Benxi is offering at USD 470/MT CFR basis. Previous offer- USD 472/MT CFR basis.

-- HRC (SS400), China- Chinese mills are offering at USD 460/MT CFR basis.

-- Chinese major steel producer Baosteel had booked 70,000 MT HRC for exports to Vietnam at USD 470/MT towards the end of the previous week for March-end-April delivery.

-- HRC (SAE 1006, 2mm), Japan- Nippon steel's offer continues to hover at USD 490/MT CFR basis.

-- HRC (SAE 1006, 2mm), South Korea- Hyundai steel's offer remains unchanged at 485/MT CFR basis.

-- HRC (SAE 1006, 2mm), India- Indian steel mills are offering at USD 485-490/MT CFR basis.

-- Vietnamese domestic integrated steel manufacturer Formosa Ha Tinh offering HRC (skin pass, SAE1006) prices at USD 520/MT for Apr'20 deliveries.