Vietnam: Imported HRC Offers Remain Stable

This week imported HRC offers to Vietnam remain largely stable as buyers have adopted a wait and see approach over a rapid surge in the offers from major exporting nations.

Few trade sources based in Vietnam also shared that, "Buyers remained quiet last week over an increase in offers from India and China for Jan deliveries."

Thus, Vietnamese buyers are observing the market trends currently and will book the material shortly for Jan deliveries ahead of the New Year holidays.

In a recent trade heard, 10,000 MT positioned HRC cargo from India was concluded at USD 460/MT, CFR Vietnam.

Current HRC export offers to Vietnam- Week 49,2019

1. HRC (SAE 1006) 2mm, India- Indian steel mills offering at USD 465-470/MT CFR basis.

2. HRC (SAE 1006) 2mm, Japan- Nippon steel offers stand at USD 480/MT CFR basis.

3. HRC (SAE 1006) 2mm, South Korean- Hyundai Steel offers stand at USD 470/MT CFR basis

4. HRC (SAE 1006) 2mm, Russian- MMK steel is offering at USD 460/MT CFR basis.

5. HRC (SS 400) 2mm, China- Chinese steel mills offering at USD 480/MT CFR basis.

6. Vietnam's domestic integrated steelmaker Formosa is offering HRC (skin pass, SAE 1006) at USD 470/MT CIF basis for Dec-Jan shipments.