Although import HRC prices have indicated new declines this week, Vietnamese steel producer Formosa Ha Tinh (FHS) has announced new local HRC prices for mainly September shipment mostly at the same levels as in June. The move was not expected by most customers, who were initially waiting for new prices at lower levels, but it has slightly changed sentiments, giving hope for some recovery in import prices also this month.
More specifically, FHS’ prices for non-skin passed SAE1006 and SS400 HRC in the local market for September shipment have settled at $560/mt CIF for orders for a minimum of 20,000 mt, while for 10,000-20,000 mt orders FHS’s new price stands at $563/mt CIF. Besides, prices for smaller volumes, for 5,000-10,000 mt in particular, have settled at $566/mt CIF, at $569/mt CIF for 2,000-5,000 mt and at $572/mt CIF for orders of 2,000 mt maximum. At the same time, offers for skin passed SAE1006 HRC have been estimated at $570-580/mt CIF. Thus, the prices have remained at relatively the same levels as last month.
In the meantime, offers for ex-China Q235/SS400 HRC in Vietnam have been heard at $516-518/mt CFR for August shipment, versus $525/mt CFR at the end of last week. Besides, offers for ex-China SAE1006 HRC through traders have been assessed at $530-535/mt CFR, down by $5/mt on the lower end of the range week on week, while offers from mills have been heard at $540/mt CFR. Thus, SteelOrbis reference price for imported SAE1006 HRC have moved to $530-540/mt CFR, against $535-540/mt CFR last week.