Vietnam’s hot rolled coil (HRC) import market has remained quiet this week, with trading activity limited as buyers have adopted a cautious approach amid soft downstream demand and uncertain price trends. Prices for ex-China Q235 HRC have continued to fluctuate in line with volatility in Chinese futures, while offers for SAE1006 HRC from other origins have remained relatively stable or have been showing a slight upward bias. Market participants noted that most buyers were unwilling to commit to large volumes, preferring to monitor price movements and macroeconomic developments before making fresh purchases.
Offers for ex-China 2,000 mm Q235 HRC, which are not subject to antidumping duty, have been reported at $490/mt CFR for August shipment, up by $3/mt since the beginning of the week, but down by $5/mt week on week. Meanwhile, indicative ex-China SAE1006 HRC offers have been voiced at around $500-510/mt CFR, though interest from Vietnamese buyers is still limited due to applicable duties.
Offers from Indonesia for SAE1006 HRC have been heard at $505-510/mt CFR for October shipment, up by $5/mt week on week, while offer prices for ex-Japan SAE1006 HRC stand at around $510-520/mt CFR, compared to $515/mt CFR last week.
As a result, the SteelOrbis reference price for import SAE1006 HRC has remained at the same level as at the beginning of this week at $505/mt CFR, but is up by $5/mt CFR week on week.
As of August 6, HRC futures at Shanghai Futures Exchange are standing at RMB 3,451/mt ($483/mt), decreasing by RMB 32/mt ($4.5/mt) since July 30, while increasing by 0.41 percent compared to the previous trading day, August 5.
