Offer prices for hot rolled coils (HRC) have increased again in Vietnam this week, but trading activity is still at reduced levels, with buyers focusing on purchases of limited volumes from traders.
Indian mills have increased offer prices to $500/mt CFR Vietnam, while some of them have announced even $510/mt CFR, sources said. “All Indian mills are sold out for January, while some of them are offering for March shipment now,” an Asian trader said. The better situation in the local Indian market has also supported exporters. Last week, offers from mills were heard at $480-485/mt CFR Vietnam.
At the same time, traders have been offering ex-India HRC at $485-490/mt CFR Vietnam, SteelOrbis was informed on Thursday, December 12. There have been reports in the market that a trader managed to sell ex-Indian HRC, which has been purchased from a mill earlier, at $480/mt CFR Vietnam earlier this week. Some sources said that bids have been coming at $470-475/mt CFR, but it has been almost impossible to find such offers in the market.
Prices for ex-Japan and ex-South Korea HRC have been assessed by market sources at $490-500/mt CFR this week. The latest deal for ex-Japan HRC was done at $480/mt CFR Vietnam last week, SteelOrbis has learned.
As a result, the SteelOrbis reference prices for imported SAE1006 HRC in Vietnam have increased by $15-20/mt week on week to $480-490/mt CFR.
