Indian HRC Export Prices Climb by USD 10 in Recent Deal with Vietnam

Following the hike in the Indian HRC export offers last week, Indian mills have managed to conclude deals at increased prices. A private steel producer based in eastern India has booked around 50,000 MT of HRC for exports at USD 430-435/MT CFR Vietnam for July deliveries, SteelMint gathered the information from its reliable market sources. The deal was concluded last week.

Other few deals reported last week are:

-- The government-owned steel manufacturer has also booked a small parcel of 10,000 MT of HRC with Vietnam at USD 420-422/MT CFR basis for June end- July delivery.

-- Towards the beginning of last week, a major private Indian mill based in the western region had booked around 25,000-30,000 MT at USD 425-430/MT CFR basis

--Another mill based in eastern India had booked 20,000 MT of HRC at USD 425-430/MT CFR Vietnam for July shipments.

Imported HRC offers to Vietnam moved up further- This week imported HRC offers to Vietnam reported an increase by USD 5-10/MT from major exporting nations

Current imported HRC offers to Vietnam-

--HRC (SAE 1006, 2mm), China- Benxi Steel is offering at USD 440/MT CFR basis. Previous offer- USD 430/MT CFR basis.

-- HRC (SAE 1006, 2mm), Japan- Nippon Steel's offer is at USD 440/MT CFR basis. Prior offer- 435/MT CFR basis.

-- HRC (SAE 1006, 2mm), South Korea- Hyundai Steel is offering at USD 435/MT CFR basis. Previous offer- USD 430/MT CFR basis.