Vietnam: Imported HRC Market Remains Active, 30,000 MT Deal Reported from India

A major Indian private steel manufacturer has concluded a deal for around 30,000 MT HRC (SAE 1006) for export to Vietnam. The deal was heard to have concluded through traders towards the end of the previous week at around USD 390/MT CFR basis for June delivery, SteelMint learned from its authentic sources.

-- Before this, towards the beginning of last week, an Indian steelmaker booked 20,000 MT HRC last week to Vietnam at USD 388/MT CFR basis for May and June deliveries.

-- Indian steel mills have shifted their focus to exports owing to complete lockdown in India from 24th March. Meanwhile, importers in Vietnam are booking material preferably from Indian and Russia at cheaper offers.

Current imported HRC offers to Vietnam-

-- HRC (SAE 1006, 2mm), Japan- JFE Steel's offer is consistent at USD 420/MT CFR basis.

-- HRC (SAE 1006, 2mm), South Korea-Hyundai Steel's offer is hovering at USD 420/MT CFR basis.

-- HRC (SAE 1006, 2mm), Russia- Severstal is offering at USD 368-370/MT CFR basis.

-- Towards the beginning of the previous week, Russia-based MMK steel mill had concluded a deal of around 80,000 MT HRC (big coils) to Vietnam at USD 370/MT CFR basis for June delivery.

-- Vietnam based domestic steelmaker Formosa Ha Tinh is planning to announce its HRC prices shortly.