Indian Steel Mills Raise HRC Export Offers to Vietnam

Following hike in Chinese HRC export offers, market participants in conversation with SteelMint shared that Indian steel mills have raised HRC export offers to Vietnam by around USD 10/MT for Feb shipments against last week.

A major private Indian steelmaker is offering HRC at around USD 490/MT CFR basis. There were some indications that some deal has been concluded however the quantity could not be confirmed at the time of publishing this report.

Last week the company concluded deal for around 30,000 MT HRC with Vietnam at USD 480/MT CFR basis for Feb shipments.

HRC export offers from Chinese mills to Vietnam rise further - Imported HRC offers from Chinese mills inched up amid appreciation of Chinese currency Yuan and restocking ahead Chinese New year holidays. Chinese Yuan has appreciated to 6.78 against USD which was 6.85 in 1st week of Jan'19.

Imported HRC offers to Vietnam from China moved up by USD 5-10/MT against the previous week.

Imported HRC offers to Vietnam - Week 4, 2019
1.HRC (SAE 1006) 2-3mm/Chinese offer- Benxi Steel is at USD 500/MT CFR Vietnam.

2.HRC (SAE 1006) 2-3mm/Chinese offer - Rizhao Steel is at USD 495/MT CFR Vietnam. Towards beginning of last week offers were around USD 480/MT, CFR China.

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

4.HRC (SAE 1006) 2-3mm/Indian offer - Indian steel mills offering is at USD 490-495/MT CFR Vietnam.Last week the offers was in range of USD 480/MT CFR basis for Feb shipments.

5. Domestic steelmaker Formosa Ha Tinh Corporation also raised its HRC prices this month by USD 15/MT and is offering at USD 495/MT CFR basis for Feb-March shipments.