Vietnam: Low priced imports continue to weigh on HRC offers

Imported HRC offers to Vietnam continue to slump further owing to cheaper offers from Indian and Russia. Offers have come down by USD 5-15/MT against the beginning of this week. Vietnam buyers have aggressively booked cargoes from Indian and Russian mills for June shipments. However Chinese steel mills continue to offer on the higher side.

-- Also, Vietnam based domestic steelmaker Formosa Ha Tinh is planning to reduce its HRC offers for June shipments. However, an official announcement is still awaited, shared by company officials. Current imported HRC offers to Vietnam- -- HRC (SAE 1006, 2mm), China- Benxi is offering at USD 410/MT CFR basis. Prior