The Vietnamese hot rolled coil (HRC) market continues to struggle as regards concluding import deals due to persistently weak demand. Activity in both the domestic and export segments for coated steel remains limited, highlighting the overall sluggishness in the market. Still, domestic demand has seen a modest uptick compared to exports, providing some slight relief for local suppliers. Nevertheless, buyers remain hesitant and trading is still muted as market players closely monitor economic conditions and price movements.
Offers for ex-China 2,000 mm Q235 HRC in Vietnam, which are not targeted by antidumping (AD) duty, have been voiced at $472-475/mt CFR for June shipment, mainly the same as reported last week, but down by $5-6/mt since Tuesday, April 8. Besides, indicative offers for ex-China SAE1006 HRC have been assessed at $485/mt CFR, down by $5-10/mt week on week.
Meanwhile, indicative offers for ex-Indonesia SAE1006 HRC have been estimated at around $540-545/mt CFR, though, according to sources, most bids are still voiced at $510/mt CFR. Besides, offers for ex-Japan SAE1006 HRC have been estimated at $520-530/mt CFR, the same as last week.
Thus, the SteelOrbis reference price for import SAE1006 HRC has moved to $485-510/mt CFR, against $490-510/mt CFR last week, with the lower end of the range corresponding to the most competitive offers from China, while the higher end corresponds to the tradable price from other foreign suppliers.