Vietnam: Imported HRC Offer Increases Amid Positive Demand

Imported HRC export offers rose by USD 10/MT since end users in Vietnam have started replenishing their stocks post festive holidays.Also hike in Chinese export offers in turn raised the offers of imported HRC to Vietnam.

As per market participants Benxi Iron and Steel is offering HRC (SAE1006) on higher side which stood at USD 645/MT CFR Vietnam.Other major mills like Rizhao Steel and Maanshan Iron and Steel company is offering HRC at USD 636-640/MT CFR Vietnam.

Chinese HRC export offers rose sharply -Chinese HRC export offers have started showing upward momentum post festive holidays. This week Chinese HRC export offers witnessed hike by USD 10/MT despite softening of sentiments in domestic market.

Currently Chinese HRC export offers are assessed in the range of USD 620/MT,FoB China.Last week the offers were in the range of USD 610/MT,FoB basis.Payment are made on letter of credit basis for 1,000-10,000 MT.

Meanwhile prices in the domestic market are gauged at RMB 4,100-4,120/MT down by RMB 20/MT in Eastern China and RMB 4,040-4,060/MT Northern China.

Major mills in China like Benxi iron and steel is offering HRC at around USD 620-630/MT FoB basis ,increased by USD 20/MT over a week ago.

CIS nations surge flat steel prices amid gains in Chinese market-Following the suit of Chinese steelmakers, CIS nations have also raised flat steel prices by USD 5-15/MT.Uptrend in Chinese export offers has propelled the Chinese steelmakers to raise flat steel prices this week.

Currently HRC export offers from CIS nations are prevailing in the range of USD 590-625/MT,FoB Black Sea.in previous week prices assessment was recorded in range of USD 585-600/MT FoB Black Sea.

Previously prices were moving in upward direction over reduced supply in domestic market.

Global Flat Steel Export Offers-Week 10, 2018

Source- SteelMint Research