Posted on 18 Jan 2021
The Vietnamese re-rolling hot rolled coil import market is largely steady, Kallanish notes. Most exporting mills continue to keep offers to Vietnam firm despite the availability of low-priced position cargoes in the market.
Traders are offering position cargoes of SAE 1006 HRC for February/March shipments at $680-690/tonne cfr Vietnam. At the same time, offers from popular and Tier-1 Chinese mills are prevailing at $730/t cfr. A Chinese mill sold 10,000 tonnes of 2-2.5mm thickness SAE 1006 HRC at $690/t cfr against its offer of $710/t cfr last Friday.
Offers from a certain Asian Tier-1 mill are tagged much higher, at $760-780/t cfr Vietnam. A South Korean mill is heard to have sold a small quantity at $780/t cfr Malaysia.
Kallanish assessed the import price for SAE 2-2.7mm thickness HRC on Friday, 15 January at $680-690/t cfr Ho Chi Minh City, down $5 week-on-week.
Meanwhile, the Vietnamese import market for SS400 appears to be falling faster amid the release of position cargoes. Last Wednesday, several deals for SS400 from China were booked at $650/t cfr and the Chinese mill which supplied the cargoes is offering at $640/t cfr.
A popular Chinese mill is currently offering material at $665/t cfr, and another Chinese mill at $645/t cfr. The fall in the market is due to low-priced position cargoes, a Vietnamese trader says. But he thinks traders will be withdrawing offers because the Chinese steel market has firmed. Another Vietnamese trader reports hearing that Chinese mills are planning to raise HRC export prices this week.
Source:Kallanish
