Indian HRC exporters have remained the main sellers in the Vietnamese HRC market, with more deals disclosed at the same level as earlier this week or at slightly above.
In addition to deals at $440-445/mt CFR and $445/mt CFR (for more than 50,000 mt in total) in the first half of the week, one Indian steel mill has managed to sell 30,000 mt of HRC also at $445/mt CFR Vietnam. Some smaller tonnage totaling 7,000 mt has been traded at $448/mt CFR Vietnam late this week. Most offers from India have increased to $450/mt CFR, though local traders have said that it is still possible to get a contract below this level.
Moreover, there has been information about a sale of 20,000 mt of ex-China HRC at $445/mt CFR to Vietnam, though most sources said that this does not reflect the real situation in the Chinese export market as most mills are offering at $465/mt CFR. Some sources said that it could be a trader's position cargo.
Offers for ex-Japan and ex-South Korea have increased to $460-470/mt CFR this week, but no new deals have been heard so far.
The SteelOrbis weekly reference price for imported HRC in Vietnam has increased by $8/mt to $443-448/mt CFR.
