Vietnam’s HRC import market has remained very quiet this week, with purchasing activity and demand subdued ahead of the upcoming Tet holiday. Market participants have largely stayed on the sidelines, resulting in limited price movement and no confirmed transactions at newly voiced levels.
Offers for ex-China 235 and Q195 grade coils for pipe makers have been absent, continuing the trend seen in previous weeks. The lack of availability has been linked to export licence issues in China, which had forced traders to stop offering non-VAT material, while the approaching Chinese holiday period has further reduced activity and quotations.
Meanwhile, offers for SAE1006 HRC to Vietnamese re-rollers have been reported at $500-502/mt CFR for ex-India April shipment cargoes, broadly unchanged week on week. Buyer indications have been heard at lower levels of $495-498/mt CFR, reflecting cautious sentiment. Offers from South Korea and Japan have increased slightly to $515-520/mt CFR and $510-515/mt CFR, respectively, for April shipment, up by $5-10/mt from last week, while Indonesian SAE1006 HRC (3mm) has been offered at around $515/mt CFR, also up by $5/mt week on week.
Despite some upward adjustments in offer levels, the SteelOrbis reference price for imported SAE1006 HRC has remained stable at $495-500/mt CFR, as no deals have been concluded at higher prices and buyers have maintained an extremely cautious approach.