Late last week, offers for ex-India HRC to Vietnam increased to $1,000/mt CFR and even from some mills rose to $1,020/mt CFR. This level is too high for most buyers now, but may be reachable in time, sources said.
A deal directly from an Indian mill for 20,000 mt of SAE1006 HRC was confirmed at $975/mt CFR, up from the previous tradable value of $950-970/mt CFR. Some deals earlier last week were done by traders at $950-955/mt CFR in Vietnam. Customers will return from the holidays on May 4. “We are waiting for new prices from Formosa at $1,000/mt CFR, so deals for import [HRC] will also come to this level,” a trader said.
Chinese suppliers are expected to increase offers after the May holidays too. Late last week, some offers from big exporters were heard at $980-985/mt CFR.
The SteelOrbis reference price for import HRC in Vietnam has increased by $5/mt to $955-975/mt CFR, with the midpoint at $965/mt CFR.
