Indian HRC Export Prices to Vietnam Decline in Recent Deal

Imported HRC offers to Vietnam have continued to remain under pressure. Amid constant decline in offers from Chinese and Russian mills, Indian mills have also slashed their offers.

An Indian mill has recently concluded HRC export deal for 20,000 MT HRC at around USD 540/MT, CFR to one of Vietnam's leading producer of Galvanized and pre-painted steel sheet. Indian HRC export price assessment to Vietnam has come down by USD 10/MT W-o-W as it was around USD 550/MT, CFR.

On the other side, this week domestic HRC prices in Indian traders market have remained stable amid limited deals observed owing to festive holidays. Present assessment stands at INR 46,500/MT (USD 641) in Mumbai region (GST @18% extra). Trade participants expect domestic trades to pick-up after Diwali holidays. Mills have rolled over flat steel prices for November and might offer discounts/rebates to attract buying interest.

Chinese HRC export offers to Vietnam have hit 1-year low on lower bids from Vietnam importers and competitive offers from Russia.

Current HRC trade offers to Vietnam - Week 45, 2018

1.HRC (SAE 1006) 2-3mm / Chinese offer - Benxi Steel is at USD 545/MT CFR Vietnam. Towards beginning of the week offers were at USD 550/MT CFR.

2.HRC (SAE 1006) 2-3mm / Chinese offer - Laiwu Steel is at USD 530/MT CFR Vietnam.

3.HRC (SAE 1006) 2-3mm / Chinese offer - Baosteel is at USD 545/MT CFR Vietnam.