Posted on 13 Aug 2025
Hot rolled coil import prices continue to surge in Vietnam, Kallanish notes. This is tandem with the continued price gains in the Chinese domestic futures and spot markets.
Quotes for China-origin 1,900-2,000mm width, 3-12mm thickness Q235 grade HRC for October shipment have risen once again. Offers are now at $505-510/tonne cfr Vietnam, up from $490-495/t cfr last Friday and from $484-486/t cfr on 4 August.
Indonesia’s Dexin Steel is aiming to export 3mm base thickness SAE1006/SS400 grade HRC at $500/t fob, with freight estimated at $14-20/t depending on tonnage. However, there are also offers for Dexin HRC for shipment by end-October heard at $505-510/t cfr.
A trader reports hearing 30,000 tonnes of Dexin HRC concluded at $503/t cfr last week but he is uncertain who the buyer was. Another however says he heard Dexin's HRC offered at $503/t cfr but no deals were transacted.
There have been no recent HRC offers from Japan or South Korea quoted in Vietnam. But trading sources expect offers would be at around $530/t cfr Vietnam.
Meanwhile, domestic mills have benefited from the surge in Chinese HRC prices. Hoa Phat Group is heard to have sold out all its HRC allocations released last week and rival mill Formosa (FHS), which has released its latest allocations, will follow suit.
“Formosa will sell out soon and customers are trying to get as many allocations as possible,” a trader says. “While HRC demand is so-so, Hoa Phat and FHS prices are good because there is no cheap China HRC now.” The strong dollar is still firm against the VND and there could be further strengthening in the fourth quarter, he adds. Formosa’s deadline for its latest offer is 13 August.
The steelmaker announced on 8 August its domestic non-skin passed SAE 1006 HRC prices for September/October shipment at the equivalent of $507-517/t cfr southern Vietnam, up $10/t on-month.
Source:Kallanish
