Indian Steel Mill Concludes 10,000 MT HRC Export Deal to Vietnam

Market participants shared with SteelMint that recently a major Indian steel mill booked 10,000 MT of HRC with Vietnam for May end shipments.

As per market sources, major steel manufacturer based in eastern India concluded a deal of 10,000 MT of HRC with a buyer based in Vietnam named Hoasen (producing galavanized and colour coated coils) at around USD 540-545/MT CFR basis.

Prior this, last week a private Indian steel mill based in western region of India booked around 20,000 MT HRC (SAE 1006) to Vietnam at around USD 540-545/MT CFR Vietnam for May shipments.

Imported HRC offers to Vietnam from China- Towards the end of this week imported HRC offers to Vietnam from China witnessed marginal correction following decline in export offers from China.

Chinese HRC export offer is hovering at USD 525-530/MT FoB basis which was USD 535-545/MT last week.

Also market sources based in Vietnam shared that, "End users in Vietnam have adopted wait and watch mode ahead of May Day festival. Thus mills in Vietnam will remain on holidays and market will open by 2nd May'19".

Current HRC offers to Vietnam - Week 17, 2019

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

2. HRC (SAE 1006) 2-3mm/Chinese offer- Laiwu Steel is at USD 540/MT CFR Vietnam. In the beginning of the week offers were at USD 543/MT CFR Vietnam

3. HRC (SAE 1006) 2-3mm/Chinese offer- Angang Steel is at USD 543/MT CFR Vietnam.

4. HRC (SAE 1006) 2-3mm/Chinese offer- Baosteel is at USD 560/MT CFR Vietnam.

5. HRC (SAE 1006) 2-3mm/Chinese offer- Magang Steel is at USD 540/MT CFR Vietnam.

6. HRC (SAE 1006) 2-3mm/Indian offer- JSW Steel is at USD 545/MT CFR Vietnam.

7. HRC (SAE 1006) 2-3mm/Taiwan offer- Chung Hung Steel is at USD 562/MT CFR Vietnam.