Vietnam’s import hot rolled coil (HRC) market has remained largely stable this week, with buyers adopting a cautious stance amid limited trading activity and steady offers from most overseas suppliers. Reduced availability of Chinese material, following tighter export controls and new antidumping measures, has continued to support sentiment, though weak downstream demand and resistance to higher prices has kept the overall market momentum subdued.
Given the imposition of export licenses in China, and new AD regulations for ex-China HRC, fewer traders have been offering their materials in the Vietnamese market, with the indicative offers for ex-China Q235 HRC reported at $510-515/mt CFR for April shipment, versus $505-510/mt CFR last week.
At the same time, offers for ex-India SAE1006/SS400 HRC have been voiced at $540-545/mt CFR, mainly the same as last week. Offers for ex-Indonesia SAE1006 HRC have been remained at around $565/mt CFR for July shipment, though, according to market sources, “They are aiming for even higher prices in the next round of sales.” Offers for ex-Japan coils have been estimated at $550/mt CFR, the same as last week.
Thus, the SteelOrbis reference price for import SAE1006 HRC in Vietnam has settled at $540-545/mt CFR, moving sideways over the past week.