Posted on 02 Sep 2020
The Vietnamese hot rolled coil import market continues to lift, Kallanish notes. A shortage of material is driving prices higher.
On Tuesday, a re-roller in southern Vietnam ordered 20,000 tonnes of Indian-origin 2mm and up thickness SAE 1006 HRC, for October shipment, at $527/tonne cfr Vietnam. Previously, another re-roller ordered 20,000t of Indian SAE 1006 HRC at $525/t cfr southern Vietnam last Friday. A week ago, deals for Indian SAE 1006 HRC were struck at $515-518/t cfr Vietnam.
The prices of most steel products have improved, and Vietnamese re-rollers expect good demand for cold rolling coil and galvanised steel towards year-end, a trader says. He believed that, for this cycle, HRC prices could reach $550/t cfr Vietnam, adding that prices last peaked at this level in March 2019.
Source:Kallanish
