High offer prices from the majority of HRC exporters to Vietnam have led to a further increase in indicative workable price levels. Higher bids have been seen from some customers, but the number of inquiries has been very limited.
The offers from Chinese traders for SAE1006 re-rolling grade HRC have been very limited and mainly above $700/mt CFR. Rare bids have been heard at $690/mt CFR, but even such a price level is hardly seen from any supplier.
Offers from India have become more competitive as while one of mills have been still giving an offer at $750/mt CFR, another producer has been ready to deal at $710-720/mt CFR.
Offers from S. Korea, Japan and Taiwan have not been below $780/mt CFR and up to $800/mt CFR.
In such conditions, SteelOrbis has decided to increase its reference price for import HRC in Vietnam by $25-30/mt compared to last week to $690-710/mt CFR.