The Vietnamese HRC market has witnessed another price increase over the past week ended on January 3. Some fresh deals for ex-South Korea and ex-China HRC have been heard concluded at $510/mt CFR Vietnam recently. The transaction made by a South Korean mill was at $500/mt CFR last week, while some ex-China coils were traded at $505/mt CFR in late December. SteelOrbis’ reference price for import HRC SAE1006 in Vietnam has added $10-15/mt over the past week to $510/mt CFR.
Offers for ex-India HRC have been heard at $520-525/mt CFR Vietnam late this week, mostly for March shipment, up about $10/mt week on week. There is no reason to offer at lower levels at the moment, according to an Indian mill source, as bid prices keep going up. Chinese SAE1006 HRC has been available at $520/mt CFR as well.
Ex-Japan offers have remained at $530/mt CFR, while there have been no reports of deals recently.
At the moment, most negotiations in Vietnam are going at $510-515/mt CFR and “it is quite possible” that suppliers will be able to get $520/mt CFR in the near future, sources said.