Indian HRC Export Prices to Vietnam Decline in Recent Deal

This week Imported HRC offers to Vietnam remain stable after witnessing decline by the end of last week amid falling Chinese steel prices. In line with China, other major exporting nations like India and Russia have lower their HRC export offers for Vietnam.

Meanwhile Vietnam's domestic mill - Formosa Ha Tinh has cut HRC offers by USD 30-40/MT across various grades and for wire rod by USD 15/MT for Jan'19 against last month offers.Currently Formosa's HRC SAE 1006 offers with skin pass is assessed at USD 530-535/MT CIF Ho Chi Minh City.

On monthly basis imported HRC offers to Vietnam plunged by about USD 40-50/MT and are hovering at USD 510-525/MT CFR Vietnam which was USD 570/MT from China in beginning of Oct'18.

Current HRC trade offers to Vietnam - Week 46, 2018

1.HRC (SAE 1006) 2-3mm / Chinese offer - Benxi Steel is at USD 525/MT CFR Vietnam.

2.HRC (SAE 1006) 2-3mm / Chinese offer - Xinyu Steel is at USD 510/MT CFR Vietnam.

3.HRC (SAE 1006) 2-3mm / Chinese offer - Laiwu Steel is at USD 510/MT CFR Vietnam.

4.HRC (SAE 1006) 2-3mm / Russian offer - MMK Steel is at USD 505/MT CFR Vietnam for small coils.

5.Confirmed trade deal heard for HRC (SAE 1006) 2-3mm / Indian offer - Indian mill offer is at USD 520-525/MT CFR Vietnam.Concluded a deal of 20,000 MT of HRC with Vietnam based manufacture of cold rolled steel, roofing sheet and galvanized and coated