Major HRC exporters have increased offer prices to Vietnam as buyers have remained interested in purchases and have accepted higher levels in the latest deals. A deal for SAE1008 from a major Chinese mill has been signed at $492/mt CFR Vietnam recently. Moreover, bids at $490/mt CFR have been heard from some customers, which resulted in some sales for ex-China material as well. Last week, most deals were signed at $482-490/mt CFR.
Offers for ex-India HRC have been stable so far - at $500/mt CFR for February shipment, but major mills have not been ready to book large quantities as allocation is still limited due to the local market improvement and much better expectations for the January-February period.
Ex-Japan HRC has been offered at $525-530/mt CFR Vietnam against $490/mt CFR earlier, while ex-South Korea HRC has been available at a minimum of $500/mt CFR.
Chinese producers have started to offer at $500-510/mt CFR Vietnam for SAE1008; however, they may give some discounts if allocation exists.
“Bids from customers have reached $495/mt CFR. It seems that the uptrend will continue in January,” a trader told SteelOrbis.
