Offer prices for imported HRC in Vietnam have remained stable this week, but demand has still been limited, even though overall bid prices have increased slightly. Ex-India HRC has been booked at $482/mt CFR in Vietnam in the middle of the week: Moreover, there have been reports of a sale at $485/mt CFR later this week. Volumes have been not disclosed by the time of publication, but most sources said that there have been no large bookings recently. “These were trader positions; mills’ offers are much higher,” a trader said. There have been reports of a deal for 10,000 mt of ex-Japan HRC at about $480/mt CFR last week, but such offers are not available this week.
It has been reported that prices for ex-China HRC offered by traders have become more competitive in Vietnam. Offers have been heard at $490-495/mt CFR, while some sources said that negotiations have been held for some small tonnages of SAE1006 HRC at this level.
Overall bids in Vietnam have increased up to $485/mt CFR, while last week most customers were saying that $475/mt CFR was the tradable level for them.
Offers from major mills from India, South Korea and Taiwan are still heard at $490-500/mt CFR Vietnam, the same as last week.
There is still some room for prices to go up further in Vietnam, market participants believe, as customers still need to buy HRC for February shipment.
