Following the continuous fluctuations of import HRC prices mainly caused by ups and downs in futures and local prices in China, Vietnamese customers have kept insisting on discounts, and, as a result, have secured several batches of ex-China SS400 and Q195 HRC at lower levels this week.
More specifically, following offers for ex-China SS400 HRC at $555/mt CFR at the end of last week, at the beginning of this week new offers rolled back to $545/mt CFR level, which resulted in a few deals signed at $540-543/mt CFR for October shipment. However, by Friday, September 1, new ex-China SS400 HRC have been offered again at $550-555/mt CFR Vietnam. Besides, according to sources, more than 20,000 mt of ex-China Q195 HRC are reported to have been bought by Vietnamese customers at $538-540/mt CFR.
However, in the SAE1006 HRC segment, trade activity has been rather slow as compared to SS400 and Q195 HRC, while the SteelOrbis reference price for import SAE1006 HRC has moved to $575-580/mt CFR, versus $575/mt CFR last week. “We still heard offers at $575/mt CFR but more offers for SAE1006 HRC are coming at $580/mt CFR and even $590/mt CFR, but no deals heard so far,” a Vietnamese trader told SteelOrbis.
Indicative offers for ex-Japan, ex-South Korea and ex-Taiwan SAE1006 HRC have remained at $600-610/mt CFR, with no deals heard so far.
At the same time, while demand in the local Vietnamese market has been rather weak, a Vietnamese HRC producer has managed to sell around 100,000 mt of HRC to India at $585/mt FOB.
