Posted on 11 Nov 2020
Suppliers have continued to raise offers for hot rolled coil this week in Vietnam, Kallanish notes. The HRC import market has jumped sharply since last week.
Offer prices have risen to $560/tonne cfr Vietnam for 2mm SAE 1006 HRC from Japan and South Korea, up by $10/t since last Thursday. Baosteel's 2mm SAE 1006 HRC was booked at $553/t cfr last Friday.
An Indian mill is currently offering 2mm and up thickness SAE 1006 HRC at $555/t cfr, and a Chinese mill is offering 2-2.5mm thickness SAE 1006 HRC at $550/t cfr. These offers, for January shipment, are $5/t higher than late last week. The same Chinese mill’s SAE 1006 HRC was booked at $528/t cfr on Monday last week.
Vietnamese importers are currently giving bids at $545-548/t cfr for these two origins, a Vietnamese trader says. Demand is expected to be good early next year because of low bank interest rates, he says.
Last Friday, Kallanish assessed 2-2.7mm SAE1006 HRC at $538-543/t cfr Vietnam, up $13 on-week.
Source:Kallanish
