Vietnam's Formosa Revises HRC Offer For March Shipments
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Vietnam's domestic mill - Formosa Ha Tinh has revised its steel prices today. Company has raised HRC offers by USD 15/MT and kept wire rod offers stable for March shipments. However Vietnam based sources expect mill to give discount on these offers.
Vietnam's domestic steel producer - Formosa Ha Tinh Corporation has released their monthly HRC offers for Mar'19 shipments today.
According to company officials, Formosa's HRC SAE 1006 skin pass has increased by USD 15/MT and is currently assessed around at USD 495/MT CIF Ho Chi Minh City. Last month offers was around USD 480/MT CFR basis.
Meanwhile the company also raised HRC SS400 offers by USD 10/MT and present offers are at at USD 485/MT on CIF basis against last month offers which was at USD 475/MT CIF basis.
Last month company has reduced HRC offers significantly skin pass by USD 50/MT and wire rod by USD 60/MT for February shipments.
Formosa keeps wire rod offers stable for March shipments-Company has kept wire rod offers unchanged for March shipments which is assessed around USD 510/MT CIF basis. Meanwhile last month also company's wire rod offers stood at similar levels.
Formosa steel sales figures for last month - As per sources, last month, company recorded domestic sales at around 1,72,000 MT of HRC and 76,000 MT HRC in exports to overseas markets.
However for wire rod the sales numbers were around 25,000 MT for domestic market and around 25,000 MT for exports to overseas market.
Formosa Steel Prices for Mar'19 Shipments
| S.No | Products | Currency | Prices for Mar'19 | Prices for Feb'19 |
| 1 | HRC (SAE 1006),CIF Basis | USD/MT | 495 | 480 |
| 2. | HRC (SS 400),CIF basis | USD/MT | 485 | 475 |
| 3. | Wire rod ,CIF basis | USD/MT | 510 | 510 |
Source- SteelMint Research
Imported HRC offers to Vietnam - Week 3, 2019
1.HRC (SAE 1006) 2-3mm / Chinese offer- Rizhao Steel is at USD 480/MT CFR Vietnam.Last week the offers was in range of USD 490/MT CFR basis.
2.HRC (SAE 1006) 2-3mm / Chinese offer - Baosteel is at USD 492/MT CFR Vietnam.Last week the offers remained at similar levels.
3.HRC (SAE 1006) 2-3mm / Japanese offer - JFE steel is at USD 550/MT CFR Vietnam.
4.Confirmed trade deal heard of around 10,000 MT of HRC been booked by major steel mill in China at around USD 480/MT CFR basis to Vietnam based Hoa Sen for February shipments.
5.HRC (SAE 1006) 2-3mm/ Korean offer - Hyundai steel is at USD 550/MT CFR Vietnam.
6.HRC (SAE 1006) 2-3mm /Indian offer - Major Indian mill is heard offering at USD 480/MT CFR Vietnam last week.
