Vietnam: Imported HRC Offers Up; Deals Reported

Indian HRC export offers to Vietnam have increased by USD 5-10/MT W-o-W. SteelMint gathered information from market sources that a major steelmaker based in eastern India booked around 10,000-20,000 MT HRC to Vietnam at USD 400/MT CFR basis. Few sources indicated that with parcel size being smaller, the deal price was slightly higher.

Indian HRC (SAE1006) export offers have moved by USD 5-10/MT and are currently seen at USD 395-400/MT, CFR China.

Last week, Indian steel mills collectively booked around 2,25,000 MT of HRC to China and Vietnam at around USD 388-390/MT CFR basis.Thus the offers started moving up owing to improved trades in Vietnam and China post labour day holidays from 1st May to 5th May'20.Also rebound in Chinese futures and improved demand in turn pushed Indian mills to raise offers.

Current HRC trade offers to Vietnam:

-- HRC (SAE 1006, 2mm), China- Benxi Steel is offering at USD 410/MT CFR basis. Prior offer- USD 405/MT CFR basis.

-- HRC (SAE 1006, 2mm), South Korea- Hyundai Steel's offers stood at USD 415/MT CFR basis. Before this, the offers stood at USD 410/MT CFR basis.

-- HRC (SAE 1006, 2mm), Japan- Nippon Steel is offering USD 415/MT CFR basis.

--HRC (SAE 1006, 2mm), Russia- MMK steel offering at USD 390/MT CFR basis.