Posted on 18 Aug 2025
Competitively priced domestic hot rolled coil has kept imports in check in Vietnam, Kallanish notes.
A recent booking for 30,000t of Malaysian 2mm base thickness HRC was concluded at $503/tonne cfr Vietnam earlier in August. Trading sources believe that the ordered cargo is for end October/early November shipment.
There was also South Korean 2mm HRC offered last Friday at $520/t cfr. A trader says that he does not hear of any takers for this cargo. “I don't think any deal can be done at this price, it is higher than domestic HRC,” he says.
Quotes for China-origin 1,900-2,000mm width, 3-12mm thickness Q235 grade HRC for October shipment have fallen to $495-497/t cfr Vietnam on Friday, down from $505-510/t cfr Vietnam on 11 August. This remains above $490-495/t cfr on 8 August. Q195 grade HRC is currently offered $6/t more than Q235 grade HRC.
Indonesia’s Dexin Steel is still aiming to export 3mm base thickness SAE1006/SS400 grade HRC at $500/t fob, with freight estimated at $14-20/t depending on tonnage.
Formosa Ha Tinh Steel was heard to have sold out its latest HRC allocations last week, just as rival mill, Hoa Phat did earlier this month.
Formosa 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, depending on tonnage, up $10/t on-month.
The mill gave its usual discount of around $10/t for 20,000t bulk bookings.
“Many customers wanted to increase their order volumes,” a Hanoi trader said.
Kallanish assessed SAE grade 2-2.7mm thickness HRC at $500/t cfr Vietnam, up $5/t week-on-week.
Source:Kallanish
