HRC import offers in Vietnam rebound in December

Sources inform SteelOrbis that import offers received in Vietnam for HRC 2-3mm (SAE 1006) are increasing, although at the moment buying interest is limited. Sources inform SteelOrbis that offers have successful remained above $550/mt CFR since August.

In mid-December, Chinese origin HRC 2-3mm has reportedly sold into Vietnam at $565-570/mt CFR, while prices are slightly lower from other regions such as India and South Korea. Chinese HRC is considered costlier due to price increases resulting from production cuts in China. As reported by SteelOrbis on November 24, Chinese HRC 2-3mm offers in late November were substantially higher than the average for the month.

HRC bids from buyers are reportedly at $555-560/mt CFR Vietnam. Several Indian mills have been actively offering HRC to Vietnam for the past several months seeking cargo opportunities on the backdrop of the higher priced Chinese product.