Prices for imported HRC in Vietnam have increased further by the end of this week and the attention of buyers has remained on Indian material. Customers are looking for cheaper options to higher-priced local coils at the moment.
A lot of 10,000 mt of ex-Indian SAE1006 HRC has changed hands at $750/mt CFR, up by $5/mt compared to the previous deal for HRC of the same origin. At the moment, one of the biggest Indian suppliers is in negotiation at $760/mt CFR, according to sources, though the signing of a deal has not been confirmed so far. “We see demand from Vietnam and prices are slowly increasing,” a seller said.
A Chinese trader has been heard to have sold a small volume of re-rolling HRC at $755-760/mt CFR to Vietnam this week as well, while most offers have been at not less than $770/mt CFR.
Formosa Ha Tinh has announced its local prices for SAE1006 HRC at $765-770/mt CFR, up by $45/mt compared to the previous month. “Buyers think that the price is high,” a trading source said. But “it helps import prices to increase,” another source said. Some discounts from Formosa are heard to be possible, while the lowest price can touch $760/mt CFR for a significant tonnage in a deal, sources have said.
The SteelOrbis reference price for import HRC in Vietnam has added $5-10/mt since the middle of this week and $10-15/mt since late last week, reaching $750-760/mt CFR.
