Posted on 27 Oct 2025
The Vietnamese hot rolled coil import market is muted, Kallanish notes.
Weak demand forced domestic producer Formosa Ha Tinh Steel to reduce on 22 October its HRC domestic prices for December shipment, which were announced just the week before. The price drop would clip the price for 10,000-20,000-tonne orders to around $514/tonne cif Vietnam (see Kallanish passim).
Certain local trading sources say that domestic customers have accepted the discount, which will mean the Vietnamese mill will be able to sell out its estimated 200,000t HRC allocation.
A southern Vietnam mill manager says he received on 23 October an invitation to bid for HRC from India and from Indonesia’s Dexin Steel, subject to reconfirmation.
A supplier is aiming to collect orders for 30,000t of Indian-origin SAE 1006 2-12mm thickness, 1,000-1,500mm width HRC, of which maximum 30% is 2mm thickness or SS400 grade, at $500/t cfr Vietnam. The cargo is for shipment by 10 December.
A Vietnamese trader believes Vietnamese buyers are bidding for the Indian HRC at only $490/t cfr, while another points out buyers are free to bid at whatever levels they like.
The supplier is also seeking bids at $498-500/t cfr Ho Chi Minh for Dexin Steel’s SS400 or SAE 1006 3-12mm thickness, 1,210-1,500mm width HRC, for delivery by 31 January.
Chinese 2,000mm wide Q235 HRC for shipment by 10 December was also offered at $476/t cfr Haiphong and $479/t cfr Ho Chi Minh last week, a buyer said on Friday. This compares with a transaction for similar specifications, size and shipment at $480/t cfr in the week through 17 October.
Kallanish assessed SAE grade 2-2.7mm thickness HRC at $495-500/t cfr Vietnam, down $2.5/t for the second week in a row.
Formosa was widely heard to have sold 30,000t of slab for January shipment at $437/t fob to a leading Indonesian reroller during the week through 17 October. The freight cost is around $13/t. The cargo comprised mainly rerolling and some S400 grade slab, Vietnamese trading sources say.
Source:Kallanish
