Indian Mills Reduce HRC Export Offers to Vietnam

Imported HRC offers to Vietnam witnessed further decline later this week amid significant fall in Chinese steel prices. Meanwhile imported HRC offers to Vietnam fell by USD 15/MT from India as well compared to the offers assessed last week.

Currently HRC (SAE 1006) from India to Vietnam is assessed around USD 525/MT CFR basis. Last week imported HRC offers from India were at USD 540/MT CFR basis. However no deals at revised prices have been reported yet.

Meanwhile Chinese HRC export offers is hovering around USD 500/MT FoB basis which was USD 515-520/MT FoB basis in starting of this week.Thus thin demand and excess supply is pulling down steel prices in China.

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.In the beginning of the week offers were at USD 542/MT CFR.

2.HRC (SAE 1006) 2-3mm / Chinese offer - Rizhao Steel is at USD 520/MT CFR Vietnam.

3.HRC (SAE 1006) 2-3mm / Chinese offer - Laiwu Steel is at USD 515/MT CFR Vietnam.

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

5.HRC (SAE 1006) 2-3mm / Indian offer - Indian mill offer is at USD 525/MT CFR Vietnam.Last deal was concluded at USD 540/MT CFR basis.No major deals concluded.

6.HRC (SAE 1006)) 2-3mm/ Korea offer at USD 575/MT CFR basis.

7. Vietnam based domestic producer,Formosa Ha Tinh Corporation likely to revise HRC offers shortly.