IRON and STEEL
Prevailing holidays in key countries like China, Japan and Vietnam, kept trades on lower side last week.
This week Imported HRC offers to Vietnam remain range bound. Few steel mills have started offering HRC to end users in Vietnam for June shipments, however not all major mills were heard today in the market.
Chinese steel market resumed working yesterday after long holidays on account of May day and also Vietnam’s market was closed from 30 Apr-03 Jun’19.
Currently imported HRC offers to Vietnam stood at USD 540-545/MT CFR basis. However post holidays Imported HRC offers to Vietnam remain largely stable with minimal changes.
Current HRC offers to Vietnam - Week 19, 2019
1.HRC (SAE 1006) 2-3mm/Chinese offer - Chung Hung steel is at USD 545/MT CFR Vietnam for June shipments.
2. HRC (SAE 1006) 2-3mm/Japanese offer - Nippon Steel is at USD 560/MT CFR Vietnam for June shipments.
3. HRC (SAE 1006) 2-3mm/ Indian offer - JSW Steel is at USD 542/MT CFR Vietnam for June shipments.
4. HRC (SAE 1006) 2-3mm/Korean offer - POSCO is at USD 550/MT CFR Vietnam for June shipments.
5. HRC (SAE 1006) 2-3mm/Russian offer - MMK Steel is at USD 534/MT CFR Vietnam.