The situation in the Vietnamese HRC market has not improved much over the past week, even though Indian sellers have been actively pushing for an increase.
A deal for 10,000 mt from one of the Indian mills has been reported to Vietnam at $870-875/mt CFR, after a contract signed at $890/mt CFR earlier this week.
“I think this is the last lot with that price level. The new offer is $910/mt CFR,” one Indian trader said. “We do not see much demand this week, some customers may bid at below $880/mt CFR for import,” another source said.
Offers for ex-CIS HRC from traders are still heard at $880/mt CFR, with no new deals so far.
No fresh offers have been reported for ex-South Korea and ex-Japan thin coils, as these suppliers have been focusing on sales to Pakistan.
The SteelOrbis reference price for imported HRC in Vietnam has settled at $870-890/mt CFR this week, down slightly from $880-890/mt CFR reported earlier this week, but up $15/mt week on week.