Posted on 07 Sep 2020
The Vietnamese re-rolling quality hot rolled coil import market continues its uptrend, Kallanish notes. Re-rollers are stocking up because there is optimism in the market that recovering demand will remain strong until the end of the year.
Deals for re-rolling SAE 1006 2mm and up thickness HRC from India touched $530/tonne cfr Vietnam during last week, trading sources report. The cargoes booked are due for October shipment. Offer prices for Indian SAE 1006 HRC have now gone up to $535/t cfr. A Vietnamese trader says that bids are still at $530/t cfr Vietnam. But a Chinese trader says he has heard there could be a buyer even at above $535/t cfr.
The prevailing offers for November shipment heard in the import market vary within a range. A Vietnamese trader reports Japanese and Korean SAE 1006 2mm HRC offers at $540/t cfr. But another says Japanese SAE 1006 HRC is offered at $570/t cfr and Taiwanese at $550/t cfr. On Friday, Kallanish raised 2-2.7mm SAE1006 HRC to $530/t cfr Vietnam, up $13.5 on-week.
Source:Kallanish
