Vietnam’s import HRC market has continued to show a firmer trend over the past week, supported by tightening supply and shifting trade flows, although trading activity has remained extremely subdued.
Indicative offers for ex-China Q235 HRC in Vietnam have been reported at $520-525/mt CFR for June shipment, versus 510-515/mt CFR week, though overall availability remains constrained. According to sources, a deal for 10,000 mt of ex-China Q195 HRC has been signed at $500/mt CFR for May shipment this week. Besides, another deal for 10,000 mt of SPHC picked and oiled has been signed at $575/mt CFR for June shipment.
At the same time, sources report that offers for ex-India SAE1006/SS400 HRC have been heard at $600-610/mt CFR, compared to deal prices at $560/mt CFR last week and offers at $610/mt CFR level. However, according to sources, most buyers have been estimating tradable prices at around $585/mt CFR level.
Meanwhile, offers for ex-Indonesia SAE1006 HRC have been voiced at around $590/mt CFR up from $570-575/mt CFR last week. In addition, indicative offers for ex-Japan material have been estimated at $600/mt CFR, up by $20/mt on the lower end of range week on week.
Thus, the SteelOrbis reference price for import SAE1006 HRC in Vietnam has risen to $585-590/mt CFR, compared to $560-600/mt CFR last week, reflecting the overall upward pressure driven by limited supply and firmer offers from alternative origins.