Import HRC prices in Vietnam have shown signs of a softening this week, driven by declining offers for ex-China Q235 HRC amid volatility in the Chinese futures market. In the SAE1006 HRC segment, market talk has circulated around possible low-priced deals for coils of ex-Asia origin, as buyers have continued to push for deeper discounts amid cautious sentiment.
More specifically, offers for ex-China 2,000 mm Q235 HRC, which are not targeted by AD duty, are reported at $468-470/mt CFR for July shipment, against 475/mt CFR last week. Besides, offers for Q195 HRC 1,210-1,265 mm have been voiced at $450/mt CFR for end-of-June shipment.
Furthermore, indicative offers for ex-China SAE1006 HRC have been voiced at $490/mt CFR, compared to $490-495/mt CFR last week, though buyers are unwilling to pay the duty, effectively eliminating demand for this grade.
As for other Asian HRC exporters, offers from Indonesia for SAE1006 HRC have been estimated at around $510-515/mt CFR for July-August shipment, the same as last week. However, there has been a rumour about the sale of a position cargo of ex-Malaysia HRC of this grade at $495/mt CFR. Besides, talk about a deal for 30,000 mt of ex-Japan SAE1006 HRC signed at $490-495/mt CFR from non-affiliated buyers in Vietnam has been circulating in the market this week, though this information has not been confirmed by the time of publication.
As a result, the SteelOrbis reference price for import SAE1006 HRC has moved to $490-495/mt CFR, from $490-510/mt CFR last week.
