Posted on 05 Sep 2022
The Vietnamese hot rolled coil import market was mostly quiet at the end of last week, Kallanish notes. A national long-weekend holiday started on 1 September.
HRC import prices continue to be depressed. Around 7,000-10,000 tonnes of SS400 3-12mm thickness HRC from China was ordered at the start of last week at $570/tonne cfr Haiphong, a Hanoi trader reports. The quantity booked is small because buyers are still waiting for prices to drop further, a Vietnamese trader in Ho Chi Minh City says. They are looking at an indicative price of $550/t cfr, he adds.
A Chinese trader says he received bids for SS400 HRC on Friday at $555/t cfr for November shipment. He sold a pre-booked 2,000t lot for September shipment at $570/t cfr Haiphong on 30 August. Chinese-origin 2.3mm up thickness SAE 1006 HRC would probably be offered at $600/t cfr now, he adds. But another Chinese trader says he was not hearing any offers for re-rolling HRC in the market. “It is meaningless to offer now because demand is so weak,” he opines.
Certain suppliers are offering Taiwanese SAE 1006 2mm up thickness HRC at competitive levels of $575-580/t cfr Vietnam, another Ho Chi Minh trader observed on Friday. An international trader is heard inviting bids at $580/t cfr Vietnam. Previously, offers for Taiwanese SAE 1006 HRC were at $590/t cfr on 26 August.
Kallanish assessed SAE grade 2-2.7mm thickness HRC at $575-580/t cfr Vietnam, down $15 on-week.
Source:Kallanish
