The Vietnamese HRC market has been witnessing a huge decline in offers from major exporting countries lately. Indian, Chinese and Russian producers were heard lowering bids to lure buyers, and several deals were heard. However, trading sources do not expect a strong buying appetite for current offers.
- It is heard that an Indian special steelmaker has recently booked 20,000-30,000 t hot rolled coil (HRC) (SAE1006) for export at $790/t CFR Vietnam. The price is down $30/ton as offers were heard at $820/ton CFR last week. However, it is heard that a few mills are still offering around $810/ton CFR.
- It is heard that a small package of Chinese HRC (SS400) has been booked for export at $760-770/t (t) CFR Vietnam for January 2022 shipment. However, offers from Tier 1 producers continue to hover around $810/ton CFR.
- Russian mills continued to bid at $760/ton CFR.
Comments
No comment yet.