The rising trend of hot rolled coil (HRC) import prices in Vietnam has continued unabated with an estimated tonnage of 40,000 mt booked this week, originating from China, SteelOrbis has learned from trade circles.
According to market insiders, the abovementioned tonnage has been sold through trader for ex-Ma’ashan Iron and Steel SAE1006 HRC at $620-625/mt CFR, for February shipment. This means the deal price has increased by $10-15/mt over the past week. Meanwhile, most offers for ex-China SAE1006 HRC have already been voiced at $620-635/mt CFR, versus $610-620/mt CFR last week. Furthermore, most offers for ex-China SS400 HRC have been reported at $600-610/mt CFR, up by $10/mt week on week, with only some occasional offers still heard at $595/mt CFR, from Anfeng Steel in particular.
At the same time, other foreign suppliers have been staying out of the Vietnamese market over the past week, with the indicative offers for both ex-Japan and ex-India SAE1006 HRC standing at not below $630/mt CFR, according to market sources.
The reference price for SAE1006 HRC in Vietnam has moved up to $620-625/mt CFR, compared to $610-620/mt last week, given new deals signed at higher levels this week.