Posted on 26 May 2025
The Vietnamese hot rolled coil market continues to be weak, Kallanish notes.
Two leading Vietnamese rerollers in southern Vietnam were heard in the past week to have ordered 30,000 tonnes of Japanese 2mm thickness SAE 1006 HRC at $490-495/tonne cfr against an offer at $500/t cfr.
Vietnamese trading sources were surprised that the Japanese mill sold the HRC at a lower-than-expected price. A Hanoi trader reports hearing that the two domestic producers have warned that they will take action against the dumping of such low-priced imports.
Kallanish assessed SAE grade 2-2.7mm thickness HRC at $490-495/t cfr Vietnam, down $5/t week-on-week.
Meanwhile, there has been no further information from Hoa Phat after it issued a statement seen by industry sources during the week through 16 May. In that statement, the company said that the damage to a blast furnace due to a fire on 8 May was minimal and that repairs will take one week.
Many industry sources think that it will take a longer time for the blast furnace to resume operations (see Kallanish passim).
“The company has publicly said that, but I am not sure if they can fix it in the next 1-2 months,” a Hanoi trader said Friday.
Source:Kallanish
