The import HRC market in Vietnam has improved further by the end of this week with a few deals signed at higher levels. Indian mills have continued bookings as they have been offering good prices compared to latest higher offers from some Chinese mills.
Two deals for ex-India SAE1006 HRC have been reported at $740-745/mt CFR to Vietnam recently, $10/mt higher than the previous sales price level. The total tonnage is unknown at the time of publication, but it has been estimated at 30,000 mt, market sources said. Official offers from India are at about $755-765/mt CFR on Friday, March 5.
Chinese suppliers have been offering re-rolling grade coils at a wide range of $735-785/mt CFR to Vietnam. After a deal reported earlier this week at $735/mt CFR, it has been hard to find a cargo at below $750-760/mt CFR, sources said.
Japanese suppliers have increased their offers to $830-850/mt CFR after successful deals at $800/mt CFR to other Asian countries. Suppliers from Taiwan have been offering HRC to Vietnam at $800/mt CFR.
The SteelOrbis reference price for import SAE1006 HRC in Vietnam has been increased by another $5-10/mt from early this week and by $15-20/mt from last week to $740-745/mt CFR.
