Iron and Steel

Vietnam: Imported HRC Offers Inch Down Following Decline in Chinese Offers

Vietnam: Imported HRC Offers Inch Down Following Decline in Chinese Offers
Mining News Pro - Towards the end of this week imported HRC offers to Vietnam have moved down further by USD 5/MT against offers in beginning of this week. Amid sluggish demand,lower HRC export offers from China and limited bookings from end users in Vietnam in turn leads to imported offers under pressure.
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According to Mining News Pro - Towards the end of this week imported HRC offers to Vietnam have moved down further by USD 5/MT against offers in beginning of this week. Amid sluggish demand,lower HRC export offers from China and limited bookings from end users in Vietnam in turn leads to  imported offers  under pressure.

Meanwhile Chinese mills have lowered HRC export offers this week. Currently Chinese HRC export offers stood at USD 560-565/MT FoB China; down by USD 10/MT W-o-W. With downstream demand still remaining weak and easing out of winter production cuts in Tangshan, bearish sentiments are prevailing in Chinese HRC market.

Current HRC trades & offers for Vietnam

 
1.HRC (SAE 1006) 2-3mm / Chinese offer - Benxi is at USD 575/MT,CFR Vietnam.In the beginning of the week the offers was at USD 580/MT CFR.

2.HRC (SAE 1006) 2-3mm / Chinese offer - Rizhao Steel Offer at USD 573/MT CFR basis.Last offers stood at USD 575/MT CFR basis.

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

4.Confirmed trade deal heard by Vietnam based Hoa Sen Steel this week of HRC (SAE 1006) 2-3mm / Chinese offer - Laiwu Steel of around 20,000 MT at USD 570/MT CFR Vietnam.

5.HRC (SAE 1006) 2-3mm / Russian offer - MMK Steel offer at USD 565/MT CFR basis. Last offers were at USD 568/MT, CFR.

6.HRC (SAE 1006) 2-3mm / Indian offer - major Indian mill offer at USD 570/MT CFR basis. Last offers was at USD 575-580/MT CFR basis.

 


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