Posted on 06 Oct 2025
The Vietnamese hot rolled coil import market was sluggish with slow trading last week, Kallanish notes. While exporters continue to make offers, Vietnamese buyers are bidding at lower levels.
An Indian mill’s SAE 1006/SS400 grade HRC for November shipment, of which 20-30% will comprise 2mm thickness was offered last week at $512/tonne cfr Vietnam. Buyers are currently in price negotiations. “But I think the seller may accept a lower price of $500-505/t,” a Vietnamese trader said last Friday.
Suppliers continue to target to sell Indonesian 3mm base HRC for January shipment at $510/t cfr Vietnam. Some trading sources say that it may need to lower to $505/t cfr to close deals.
Earlier last week, an offer for 2m-width 3mm base Q235 HRC for November-shipment was seen at $491-493/t cfr. The supplier was trying to short sell, a Vietnamese trader says. In that offer, HRC-origin from four Chinese mills was not fixed. Offers for wide-width Q235 HRC were around $497-499/t cfr Vietnam the previous week.
A reroller in Ho Chi Minh City says that he is awaiting domestic mill, Formosa Ha Tinh Steel, to float its monthly offers of domestic HRC sometime during this week.
Formosa Ha Tinh, like rival mill Hoa Phat, is expected to maintain its monthly domestic HRC prices, market sources say. "Prices shall be the same or even, a bit down," the reroller says.
The Vietnamese rerollers' export markets for coated steel products of galvanized and galvalume to the EU have shrunk, Vietnamese trading sources say. "The market is not good at all," the reroller says.
Kallanish assessed SAE grade 2-2.7mm thickness HRC at $505/t cfr Vietnam, down $2.5 week-on-week.
Source:Kallanish
