This week demand in Vietnam’s HRC import market has remained weak, with re-rolling grade offers from most foreign suppliers holding relatively stable. Offers from Chinese suppliers for pipe-making HRC have also largely remained unchanged, with a few deals reported at slight discounts of a few dollars. Overall, the market continues to lack a clear direction and stability, as fluctuations in Chinese HRC futures prices keep sentiment uncertain.
Import offers for ex-China Q235 2,000 mm HRC in Vietnam have been voiced at $470-472/mt CFR for late December shipment, mainly the same as last week. Besides, according to sources, following several deals reported to have been signed for ex-China Q235 HRC at $470-472/mt CFR last week, this week a deal for around 10,000 mt of ex-China HRC has been transacted at $468/mt CFR for December shipment. HRC futures prices in China have continued to fluctuate, affecting export prices and keeping the market unstable and without a clear direction.
Offers for SAE1006 HRC from most foreign suppliers have remained relatively stable over the past week, with no fresh deals reported so far. In particular, offers for SAE1006 HRC from India have been voiced at around $500/mt CFR, while bids have been voiced at $496/mt CFR for late December shipment. Besides, offers for ex-Indonesia 3 mm SAE1006/SS400 HRC have been heard at $495/mt CFR for a 20,000 mt order for February shipment. Offers from a Malaysian HRC mill for 3 mm SAE1006 are still voiced at $520/mt CFR for shipment in late January. Furthermore, offers for ex-Japan SAE1006 HRC have been estimated at $510-515/mt CFR for January shipment.
Thus, the SteelOrbis reference price for import SAE1006 HRC has remained at $495-500/mt CFR, the same as last week.