Import HRC prices in Vietnam have kept showing signs of a softening this week, driven by declining offers from all the main foreign suppliers and from the Chinese in particular, amid continuous fluctuations in the Chinese futures market.
More specifically, offers for ex-China 2,000 mm Q235 HRC, which are not targeted by AD duty, are reported at $460-465/mt CFR for July shipment, against 468-470/mt CFR last week. Besides, offers for Q195 HRC 1,210-1,265 mm have been voiced at $447-450/mt CFR for July shipment. According to sources, several deals for at least 20,000 mt in total of ex-China Q195 HRC have been signed at $450-453/mt CFR.
Furthermore, indicative offers for ex-China SAE1006 HRC have been voiced at $480/mt CFR, compared to $490/mt CFR last week, though buyers are unwilling to pay the duty, effectively eliminating demand for this grade.
As for other Asian HRC exporters, offers from Indonesia for SAE1006 HRC have been estimated at around $505/mt CFR for August shipment, compared to $510-515/mt CFR for July-August shipment last week. Offers for ex-Japan SAE1006 HRC have been voiced at $500-505/mt CFR for July shipment, though, according to sources, most bids have been voiced at $490-495/mt CFR levels, with a few deals reported to have been done at the mentioned levels.
As a result, the SteelOrbis reference price for import SAE1006 HRC has moved to $480-495/mt CFR, from $490-495/mt CFR last week.
