After Hoa Phat Group announced local HRC prices at around $516-517/mt CIF this week, Vietnamese importers have lowered their bids for foreign suppliers. Thus, several deals are reported to have been concluded for ex-Indonesia and ex-India SAE1006 HRC at discounts, while suppliers from China have been sidelined due to antidumping tariffs.
Specifically, according to sources, while offers from Indonesia for SAE1006 HRC have been ranging at $505-515/mt CFR, a deal for around 30,000 mt of ex-Indonesia coils is reported to have been signed at $496/mt CFR for April shipment. Besides, according to sources, another deal for 5,000-10,000 mt of ex-India HRC was signed at $505/mt CFR, while initial offers were reported at $520/mt CFR level. “Vietnamese buyers are bidding at $495/mt CFR now,” a trader based in Vietnam told SteelOrbis, adding, “Indian sellers are unlikely to accept such a low level.”
In the meantime, offers from Chinese suppliers for SAE1006 HRC have been estimated at $490-495/mt CFR for March-April shipment, down by $5/mt week on week. Besides, offers for ex-China 2,000 mm Q235, which are excluded from AD duty, have been voiced at $475-479/mt CFR, down by $3/mt week on week. Offers from Chinese suppliers for Q195 have been reported at $465-475/mt CFR, depending on the supplier, and for Q355 HRC at $495/mt CFR, respectively.
The SteelOrbis reference price for import SAE1006 HRC has moved to $495-500/mt CFR, the same as last week, based on the most competitive offers and buyers’ prices ideas.
