A number of deals for ex-China SS400 HRC and HR strip in Vietnam have been confirmed in Vietnam over the past week at very low prices, as traders have been selling position cargoes. At the same time, prices for Chinese SAE1006 in Vietnam have indicated much smaller fluctuations amid less supply from traders and more alternative sales markets for mills.
According to sources, the latest deals for SS400 HRC have been at $640-650/mt CFR, while HR strip for pipe makers has been traded at $630-635/mt CFR. These price levels have been assessed by market sources as being the lowest in the Asian market nowadays and have been attributed to traders’ need to sell available volumes, responding to falling bids from buyers, SteelOrbis has learned.
At the same time, prices for SAE1006 coils for re-rollers even from Chinese traders and some mills have not been below $680-690/mt CFR Vietnam this week, with some transactions reported at $685/mt CFR late last week and at $690/mt CFR this week. “The market is not flooded by re-rolling grade HRC supply. Tills [from China] are still asking above $700/mt CFR,” a local source said.
The SteelOrbis reference price for imported SAE1006 HRC in Vietnam has remained at the level of early this week, at $690-720/mt CFR, with the midpoint at $705/mt CFR, up by $7.5/mt on average from last week.
