Although import HRC prices have indicated new declines this week, Vietnamese steel producer Formosa Ha Tinh (FHS) has announced its new local HRC prices for December and January shipments mostly at the same levels as in September or only slightly lower for large-volume orders. The new prices are viewed by most local buyers as overpriced given the recent fall in ex-China HRC offers, but they have changed market sentiment slightly, giving hope for some recovery in import prices also this month.
More specifically, on November 12, FHS’ prices for non-skin passed SAE1006 and SS400 HRC in the local market have settled at $534/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 $538/mt CIF. Besides, prices for smaller volumes have settled at $541/mt CIF for 5,000-10,000 mt, at $544/mt CIF for 2,000-5,000 mt and at $548/mt CIF for orders of 2,000 mt maximum. Thus, the prices have moved to $534-548/mt CIF, from $540-550/mt CIF last month. At the same time, offers for skin passed SAE1006 HRC have been estimated at $545-550/mt CIF.
In the meantime, offers for ex-China Q235/SS400 HRC in Vietnam have been heard at $495-500/mt CFR for December shipment, versus $505/mt CFR yesterday, November 11, and $510-515/mt CFR last week. Besides, offers for ex-China SAE1006 HRC from traders have been assessed at $515-520/mt CFR, down by $10/mt week on week, while offers from mills have been heard at $520-525/mt CFR. Thus, SteelOrbis’ reference price for imported SAE1006 HRC has moved to $520/mt CFR, against $525-530/mt CFR last week.