Mining News Pro - This week imported HRC offers from China continue to remain steady over passive buying among end users in Vietnam. Meanwhile last week Vietnam’s domestic producer - Formosa has lowered their HRC offers by USD 15/MT against previous month and is offering skin pass HRC at USD 610/MT CIF Ho Chin Minh city.
Thus end users in Vietnam are preferring domestic material over imported HRC amid competitive pricing.
A trader based in Vietnam mentioned that,”Imported offers of HRC is at par with domestic prices.Thus buyers have become cautious and preferring to buy material from latter amid greater convenience and faster delivery”.
Meanwhile depreciating Chinese currency Yuan over USD last week has resulted to bearish sentiments in domestic and export market in China which in turn has kept HRC offers on lower side.
Current HRC trades from China - Week 30, 2018
1.HRC (SAE 1006) 2-3mm / Chinese offer - Benxi Iron & Steel mill at USD 608-610/MT,CFR Vietnam.
2.HRC (SAE 1006) 2-3mm / Chinese offer - Rizhao Steel at USD 600-605/MT CFR Vietnam.
3.HRC (SAE 1006) 2-3mm / Chinese offer - Wuhan Iron and Steel at USD 600/MT CFR Vietnam.
4.HRC (SS 400) Chinese offer- Baotou Steel is at USD 595/MT CFR Vietnam.
5.HRC (SAE 1006) 2-3mm / Chinese offer - Shagang Iron and Steel at USD 600/MT CFR Vietnam.
6.Currently no active offers from Russian,Korean and Japanese mills to Vietnam.
