Prices for imported HRC in Vietnam have fallen further in the latest deals confirmed at below the $800/mt CFR mark. The market is still waiting for new prices from local mills in the very near future.
A contract for 20,000 mt of ex-India SAE1006 HRC has been signed at $790/mt CFR, SteelOrbis has learned. The material will be shipped in January, according to sources. Other Indian mills have cut offers to $805-810/mt CFR. In addition, most Chinese offers have been reported at $795-805/mt CFR for January-February shipment SAE1006 coils.
The latest deal for ex-China SS400 HRC has been done at $765-770/mt CFR for February shipment.
“The market is changing every day and this [falling below $800/mt CFR] was expected,” a local source said. The market sources are still waiting for new prices from Formosa Ha Tinh these days. But if late last week people were expecting that the fall would be $40/mt this month, the same as a month earlier, now the expectations have worsened again.
The SteelOrbis reference price has been cut to $790-795/mt CFR, down $10/mt from late last week.
