In the first week of October 2019, Indian decreased their offer for Vietnamese market. Latest offers were at 440 – 445 usd/ton CFR Vietnam for HRC SAE 1006 2mm, which were down around 15 usd/ton from 455 – 457 usd/ton last week. Heard there were spot lots around 5,000 mt signed at 440 usd/ton for October shipment. Buyers are expecting lower price and bidding at 535 usd/ton.
Russia HRC offers were also down around 15 usd/ton compared with two weeks agon. MMK offered big coil at 535 usd/ton for and small coil at 525 usd/ton for CFR Vietnam for early January shipment. However, compared with level 437 usd/ton CFR was made for December shipment, Vietnamese customers are still waiting for further discount.
With national holiday mood, Chinese suppliers are out of market this week. Next week, when China comes back to work, market situation will be changed a lot.
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