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Vietnam: Lower Bids Put Imported HRC Offers Under Pressure

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BigMint Bureau

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25 Jul 2019, 18:38 IST

Vietnam: Lower Bids Put Imported HRC Offers Under Pressure

Imported HRC offers to Vietnam have reported fall of USD 5/MT against the offers assessed in beginning of this week.

Currently imported offers to Vietnam from China is hovering around USD 510-520/MT CFR basis. However in the beginning of the week imported HRC offers from China stood around USD 515-525/MT CFR basis.

Meanwhile imported HRC offers from Indian mills also reported fall and stood at USD 510-514/MT CFR basis which was USD 520/MT CFR in the beginning of the week.

Thus trade sources in Vietnam shared that,"end users in Vietnam are bidding on lower side as they are unwilling to purchase material at higher prices. As per sources, there is gap of around USD 5 between bids & offers".

Current HRC trades to Vietnam- Week 30, 2019

1.HRC (SAE 1006) 2-3mm/Chinese offer- Laiwu Steel is at USD 510/MT CFR Vietnam. In the beginning of the week offers was around USD 515/MT CFR basis.

2.HRC (SAE 1006) 2-3mm/Chinese offer- Baosteel Steel is at USD 518-520/MT CFR Vietnam. In the beginning of the week offers stood around at USD 525/MT CFR basis.

3.HRC (SAE 1006) 2-3mm/India - Indian steel mills offer at USD 510-514/MT CFR Vietnam. Bids heard around USD 505/Mt CFR basis. In the beginning of the week offers was around USD 520/MT CFR basis.