Indian Steel Mills Hike HRC Export Offers for Vietnam

Market sources in conversation with SteelMint shared that major Indian steelmakers have raised HRC export offers for Vietnam by USD 5-10/MT for March shipments.

Thus currently HRC export offers for Vietnam is assessed around USD 545-550/MT CFR Vietnam against last traded price of USD 540/MT, CFR Vietnam last week.

Few trade sources also shared that a private Indian steel mill recently booked around 20,000-25,000 MT of HRC at USD 545/MT CFR basis with Vietnam for March shipments. However the booking could not be confirmed at the time of publishing the report.

Prior this, last week a private steelmaker booked around 10,000 MT HRC at USD 540/MT CFR Vietnam for March shipments.Thus Indian steel mils raised HRC export offers following upsurge in Chinese export offers which have moved up by USD 10/MT W-o-W.

Current HRC offers to Vietnam - Week 8, 2019
1.HRC (SAE 1006) 2-3mm/Chinese offer - Laiwu Steel is at USD 545/MT CFR Vietnam.

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

3.Vietnam's domestic mill Formosa is offering HRC (SAE 1006) at around USD 535/MT CiF basis for Mar end or early April shipments