Posted on 20 Jan 2025
The Vietnamese import market for hot rolled coil continues to be muted amid unconfirmed rumours and fluctuating prices, Kallanish notes.
Some suppliers are pushing for higher prices for commercial grade Chinese HRC in line with improved market sentiment in China. But the rerolling market segment appears mixed with some offers rising and others falling.
An offer for Chinese commercial Q195 3mm thickness HRC for February shipment was received at $473/tonne, compared to $455/t cfr the previous week.
A supplier was inviting bids for Chinese 2mm and up thickness SAE 1006 HRC for shipment by 10 March at $485/t cfr. But a Vietnamese trader reports hearing that suppliers are seeking bids at $495-500/t cfr following a deal for 10,000t for March shipment at $485/t cfr Vietnam. Chinese trading sources also say that offers for Chinese SAE 1006 HRC should be closer to $495/t cfr now.
Conflicting rumours concerning the release of widely anticipated anti-dumping duties from a pending trade investigation against Chinese HRC continue to persist in Vietnam. Some report rumours that anti-dumping duties could be levied around mid-February. But there is also talk that the anti-dumping case will take more time to finalise, and buyers can book March-shipments for Chinese HRC.
An offer for 2-2.99mm thickness SAE 1006 HRC from Indonesia last Friday was lower at $495/t cfr Vietnam. The cargo, due for shipment by end-March, was cheaper by around $10/t week-on-week.
SAE grade 2-2.7mm thickness HRC was assessed by Kallanish at $495/t cfr Vietnam, down $7.5 week-on-week.
Source:Kallanish
