The price level for imported HRC in Vietnam has increased slightly further by the end of the week with a few deals for Indian and Chinese coils have been reported. At the same time, outlook is still unclear.
As SteelOrbis reported earlier, a major Indian exporter sold some 10,000-20,000/mt of HRC to Vietnam at $515/mt CFR and then at $518/mt CFR. And another medium-sized deal has been disclosed at $520/mt CFR recently. Most offers from India have already reached $525-530/mt CFR.
At the same time, a trader has sold Chinese origin HRC at $523/mt CFR to Vietnam this week, this price level corresponds to $508-510/mt FOB, excluding freight. Most Chinese mills have been still offering at $515/mt FOB minimum, though some of steelmakers have been considering lower levels. Domestic HRC prices in China went down to RMB 3,980/mt ex-warehouse on average on Friday, down RMB 5/mt ($0.7/mt) on day and RMB 20/mt ($2.9/mt) on week, according to SteelOrbis.
SteelOrbis reference price for imported HRC in Vietnam has increased further to $520/mt CFR from $515-520/mt CFR on Tuesday and above $505-510/mt CFR late last week. Most bids from Vietnamese HRC importers have been heard at still $515-520/mt CFR by the end of this week with overall demand has been not very high to accept much higher prices than now, sources have said.
