Import flat steel price trend in Vietnam moves independently of demand

Tuesday, 16 July 2013 14:23:02 (GMT+3)   |   Istanbul
Amid weak demand in the Vietnamese flat steel market, Chinese origin offers have continued to climb up in the recent weeks, while local prices, which had indicated an increase in the week before last and have remained stable in the past week, are not now following the uptrend of import prices. Meanwhile, the price hikes observed in the pre-Ramadan period may be replaced with sharp price declines, raising concerns among players in the Vietnamese market.

Hot rolled coil (HRC) prices in the Vietnamese domestic market are now at $560-565/mt ex-warehouse, moving up by $10/mt as compared to two weeks ago, while cold rolled coil (CRC) prices can now be found at $680-685/mt ex-works, indicating an increase of $5/mt over the same period. Meanwhile, rerolling quality HRC of 2 mm thickness have increased by $15/mt to $570-575/mt ex-warehouse.

On the import side, Chinese HRC offers to Vietnam are now at $545/mt CFR, indicating an increase of $18-20/mt as compared to two weeks ago. In the meantime, Japanese offers for rerolling quality HRC of 2 mm thickness are at $570/mt CFR and Taiwanese offers for the same products stand at $560/mt CFR.

Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.   


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