Vietnam: Imported HRC Trades Remain Limited

This week imported HRC offers to Vietnam have inched down post Golden week holidays in China. Not many offers from Chinese mills were heard as they are yet to announce after holidays. Dull buying interest and quiet market lead to bearish sentiments and scant buying from end users in Vietnam.

Current HRC trades & offers for Vietnam
1.HRC (SAE 1006) 2-3mm / Chinese offer - Benxi is at USD 570/MT,CFR Vietnam. Prior to this the offer was at USD 575/MT CFR.

2.HRC (SAE 1006) 2-3mm / Chinese offer - Laiwu Steel Offer at USD 565/MT CFR basis.

3.HRC (SAE 1006) 2-3mm / Korean offer - Hyundai Steel offer at USD 600/MT CFR basis.

4.HRC (SAE 1006) 2-3mm / Brazil offer - Arcelor Mittal offer at USD 570/MT CFR basis.

5. Indian mills have kept away from quoting offers to Vietnam as participants await clarity on market direction. Also Indian mills had hiked domestic prices by INR 1000-1500/MT for October.

6. No offers from Japanese mills were heard. As per indications received Japanese steel mills are planning to hike HRC prices by around USD 15/MT in their next revision.