Vietnam- Imported HRC Offers Remain Range-Bound

This week the imported HRC offers to Vietnam from major exporting nations have remained range-bound against the closing of last week. However, there was a slight deceleration in the offers from Chinese exporters by around USD 2/MT. Vietnamese importers have remained cautious and are anticipating further fall in prices in the short term.

-- Meanwhile, lucrative offers from Japan have kept the Vietnamese buyers enticed compared with the higher offers from Chinese or other exporting nations.

-- Indian HRC export offers have come down by USD 5-10/MT towards the closing of last week over currency depreciation. Current indications are around USD 480-485/MT CFR Vietnam basis.

Current imported HRC offers to Vietnam-

-- HRC (SAE 1006, 2mm), China- Benxi is offering at USD 473/MT CFR basis. Towards the end of last week, the offer was around USD 475/MT CFR basis.

-- HRC (SAE 1006, 2mm), China- Baosteel is offering at USD 473/MT CFR basis. Last week's offer was USD 475/MT CFR basis.

-- HRC (SAE 1006, 2mm), Japan- Nippon Steel is offering at USD 470/MT CFR basis.

-- HRC (SAE 1006, 2mm), Japan- JFE is offering at USD 470/MT CFR basis, stable against last week.

-- Towards the end of the previous week, another deal for 10,000 MT HRC was signed with a Japanese mill at USD 470/MT CFR basis for Mar-end-Apr shipment.

-- HRC (SAE 1006, 2mm), South Korea- POSCO offering at USD 480/MT CFR basis, unchanged over the preceding week's offer.

-- Towards the end of the current week, Vietnamese domestic integrated steel manufacturer Formosa Ha Tinh is expected to revise its prices for HRC (SAE 1006, 2mm), SteelMint learned from its reliable sources.