Prices for imported hot rolled coils (HRC) in Vietnam have increased again this week, supported by a few deals signed at higher levels over the week. Indian coils have remained the most popular recently.
Overall deal prices have increased to $420-430/mt CFR for SAE 1008 HRC, up $5-10/mt compared to last week. About 50,000 mt of ex-India HRC have been sold at $422/mt CFR, as SteelOrbis learned on Monday this week. Another deal for Indian-origin material has been heard at the average level of $425/mt CFR later this week and on Thursday there have been reports about the sale of 10,000-20,000/mt at $430/mt CFR for December shipment. “The highest bids have already reached $430/mt CFR, because demand was reduced over the past two weeks,” a trader said.
Moreover, offers from Indian mills have already surged to $435-445/mt CFR for December shipment, customers said.
Offers from South Korea and Japan have also reached $440-445/mt CFR, while the previous deals were signed at $420-425/mt CFR Vietnam for both ex-South Korea and ex-Japan HRC in the second half of October.
