Prices for HRC in the Vietnamese market have increased this week. However, Vietnamese importers are mostly just evaluating the situation for now and plan to resume purchases when the trend becomes clear, as expected next week when local producer Formosa Ha Tinh Steel should announce its offers.
Market insiders said that, although some offers from Chinese traders have still been heard at around $510/mt CFR, most Chinese suppliers have increased their offers for SS400 HRC to $525/mt CFR, up by $5/mt week on week. However, Vietnamese suppliers have kept bidding at $490-500/mt CFR. Besides, offers for ex-China SAE1006 HRC have been reported at $535-545/mt CFR.
In the meantime, offers for ex-Japan SAE1006 HRC have settled at $550-570/mt CFR, up by $10-20/mt CFR. Meanwhile, according to sources, suppliers from Taiwan will not sell at below $540/mt CFR.
The reference price for import SAE1006 HRC in Vietnam has come to $535-540/mt CFR, compared to $520-540/mt CFR last week.
