Vietnam: Stable export offers amid dull demand

Imported HRC offers to Vietnam from major exporting countries were stable after gains over the last few weeks as bookings were dull on slow downstream demand.

Finished steel sales in the South East Asian markets, including Vietnam, Malaysia, and Indonesia, have slowed down this week, reducing demand for HRC, while there are ample offers from India and China.

Indian steel mills are offering HRC stable at around $520/t CFR while Chinese mills are offering at $505-515/t CFR.

Domestic steelmaker Formosa Ha Tinh recently announced an increase in its offers by $40-45/t and are offering HRC skin pass at $505/t CFR and non-skin pass at $500/t CIF basis for Oct deliveries and its open for negotiations. The company is, however, offering differential pricing for various kinds of customers, said a source.