According to Mining News Pro -This week imported HRC offers to Vietnam from China witnessed drop by USD 5-10/MT on W-o-W basis following steep fall in export offers from China.Weakening domestic market over dull trades resulted to falling steel prices in China. Nation’s HRC export offers is hovering around USD 535/MT FoB basis.
Market participants highlighted that export prices have come down with Chinese govt. announcing hike in export tax rebates on steel products from 01 Nov`18 making it more cost competitive.
In addition to this,Vietnam domestic Formosa Steel also kept its offers on lower side.The company is offering HRC (skin pass) at around USD 570/MT CIF Ho Chi Minh City.
Current HRC trade offers to Vietnam - Week 44, 2018
1.HRC (SAE 1006) 2-3mm / Chinese offer - Benxi Steel is at USD 555/MT CFR Vietnam.Last week the offers was at USD 565/MT CFR.
2.HRC (SAE 1006) 2-3mm / Chinese offer - Angang Steel is at USD 545/MT CFR Vietnam.
3.HRC (SAE 1006) 2-3mm / Chinese offer - Magang Steel is at USD 545/MT CFR Vietnam.
4.HRC (SAE 1006) 2-3mm / Chinese offer - Rizhao Steel is at USD 550/MT CFR Vietnam.Last week the offers was at USD 560/MT CFR basis.
5.Confirmed trade deal heard HRC (SAE1006) 2-3 mm/Russian offer- MMK steel is at USD 533/MT CFR basis.Company booked around 30,000 MT of HRC small coils for November shipments.
6.HRC (SAE 1006)) 2-3mm/ Korean offer- Hyundai Steel offer at USD 580/MT CFR basis.Last offers were at USD 585/MT CFR basis.
7.HRC (SAE 1006)) 2-3mm/ Indian offer at USD 550/MT CFR basis.Last offers was at USD 560-565/MT CFR basis.However no deals at fresh offers were concluded.
