As per recent market sources, Indian mills have have turned active and have booked considerable quantities of HRC to Vietnam.Indian mills have booked around 1,00,000 MT of HRC (commercial grade) in last ten days in the range of USD 610-615/MT CFR Vietnam for July shipments. Also,absence of HRC exports to European nations amid safeguard investigation has compelled Indian mills to export majorly to Vietnam.
Recently, Indian major mill have concluded a deal of 20,000-25,000 MT of HRC to Vietnam for July shipments in the range of USD 610-615/MT CFR Vietnam.
Last week SteelMint reported that a west India based steel mill has concluded a deal for 25,000 MT HRC to Vietnam. The deal price is heard around USD 612-615/MT CFR for July shipments.
Owing to competitive pricing from major exporting nations,Vietnam buyers are preferring Indian HRC amid lower prices. Before holidays major mills in China were offering HRC at USD 620-625/MT CFR Vietnam.Meanwhile Japanese HRC export offers is around USD 650/MT CFR Vietnam.And Russian HRC export offers stood at USD 610/MT CFR Vietnam.
Thus end users in Vietnam giving preference to Indian and CIS origin HRC.
Country-wise Indian flat steel exports -As per the data maintained with SteelMint, Indian flat steel exports during Jan-Apr’18 was recorded at 2.03 MnT. Out of which Vietnam’s share was of 0.12 MnT which accounts for 6% of share in first four months ( Jan-Apr) of CY18.
Other major flat steel importers were Italy, Belguim,Nepal followed by UAE and Spain.