Indian Mill Concludes 50,000 MT HRC Export Deal to Vietnam

In conversation with market sources SteelMint heard that a major Indian steel manufacture has booked HRC for export to Vietnam for Nov-end Dec shipments. The deal concluded is for 50,000 MT of HRC (SAE 1006) at USD 422-425/MT CFR Vietnam.

Thus Indian steel mills have raised HRC export offers to Vietnam yesterday by USD 5-10/MT. Currently offers from Indian mills stands at USD 420-430MT CFR Vietnam.

Current HRC offers to Vietnam-

1.HRC (SAE 1006) 2mm/ Japanese offer- Nippon Steel is offering at USD 420-430 /MT CFR Vietnam.

2.HRC (SAE 1006) 2-3mm/ South Korean offer- Hyundai Steel offering at USD 425/MT CFR Vietnam.

3.HRC (SAE 1006) 2-3mm/ Chinese offers- Rizhao Steel's offer stood at USD 425/MT CFR Vietnam at the beginning of the current week.

Indian HRC bookings to China- Market sources shared that, last week major Indian steel mill booked around 30,000-40,000 MT of HRC ( SAE 1006, SAE 1008 ) exports with China at USD 415-420/MT CFR basis for Nov end Dec shipments