Posted on 07 May 2021
Hot rolled coil import prices continue to surge in Vietnam, Kallanish notes. Nearly all offers for re-rolling HRC imports have surpassed $1,000/tonne cfr Vietnam this week.
This comes just four weeks after a Japanese mill’s regional re-rolling HRC export offer was hiked to $1,000/t cfr. At that time, regional market participants were taken aback because other origins were offering re-rolling HRC mostly at $850-900/t cfr Vietnam.
Indian 2mm and up thickness SAE 1006 HRC is offered now at $1,020/t cfr Vietnam. Vietnamese re-rollers previously booked Indian July-shipment material at $960-970/t cfr during the last week of April, before the Labour Day holiday. Transaction prices depend on the volume booked, a regional trader says. A Vietnamese trader hears $975/t cfr was the maximum price paid last Thursday.
Chinese HRC offers have also risen. A popular Chinese mill’s offer for SAE 1006 is at $1,010/t cfr, Vietnamese trading sources say. It could be a trader's position cargo because the Chinese mill says it is not offering HRC this week, a Chinese trader notes. “The market is so crazy, we just cannot catch up with this price surge,” a Vietnamese trader said on Thursday. He has an offer for SS400 HRC from China at $975/t cfr Haiphong.
Source:Kallanish
