Import trading activity in Vietnam has remained quiet this week, as buying interest has remained limited. Chinese suppliers, who have returned from their long holiday, have not made any significant adjustments to their offers, while HRC futures prices have moved up only slightly.
Offers for ex-China 2,000 mm Q235 HRC, which are not targeted by AD duty, have been reported at $490-492/mt CFR, mainly the same since September 30. Meanwhile, ex-China offers for SAE1006 HRC have remained limited and unattractive to most buyers in Vietnam due to AD duty, with the indicative offers estimated at $510/mt CFR.
It is worth mentioning that, after Chinese suppliers returned to the market from their holiday (October 1–8), HRC futures prices have shown only slight changes, increasing by RMB 32/mt ($4.5/mt) or 1.0 percent on October 10 compared to September 30, while rising by 0.37 percent compared to the previous trading day, October 9.
Other import prices for SAE1006 HRC have been estimated at $508-520/mt CFR, depending on the supplier, mainly the same as last week. The lower end of the range corresponds to ex-India HRC prices at $508-510/mt CFR, down by $2/mt on the lower end of the range week on week, while ex-Indonesia HRC offers have been voiced at $510/mt CFR. Offers from Malaysia and Japan have been estimated at $515-520/mt CFR.
Thus, the SteelOrbis reference price for import SAE1006 HRC has moved to $508-510/mt CFR Vietnam, compared with $510/mt CFR last week.