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Vietnam HRC Import Offers - Week 48

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BigMint Bureau

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23 Nov 2017, 15:56 IST

Chinese HRC imported offers to Vietnam moved up over higher domestic prices- Benxi iron and steel mill were offering imported HRC 2-3mm ( grade SAE 1006 ) in the range of USD 580/MT CFR Vietnam for Jan shipments.As per previous price assessment the same observed at USD 570/MT CFR basis.Offers from major Chinese mills like Xinyu and Magang are in the range of USD 565/MT CFR Vietnam. Also Rizhao iron and steel are offering around USD 570/MT CFR basis.

Domestic HRC prices in China have increased in the beginning of the week which is hovering around RMB 4,060-4,080/MT (ex-works) and have reached to RMB 4,110-4,140/MT (ex-works).

Indian mills seems aggressive in booking cargoes to Vietnam-Major mills in India looks aggressive in booking cargoes to Vietnam. Indian manufacturers are offering HRC import offers in the range of USD 558-560/MT,CFR Vietnam for Dec shipments.However Bhushan steel's HRC import offers were heard around USD 550-555/MT CFR basis.

Hyundai Steel Cuts HRC offers to Vietnam- As per market sources South Korea's leading electric arc furnace steel maker Hyundai Steel has decline the HRC export offers owing to weak buying interest among Vietnamese importers.SteelMint learned from market sources that Korean based mills are offering SAE1006 at around USD 570/MT CFR Vietnam for January shipments which was previously offering around USD 575/MT CFR Vietnam.

Japanese HRC export offers were not workable-Japanese mills are also offering around USD 600/MT CFR Vietnam which is not workable at the moment.Previously Japanese based mills like JFE and Nippon were offering in the range of USD 605-610/CFR Vietnam.