Prices for import hot rolled coil (HRC) in Vietnam have improved after Chinese suppliers increased offers. Though most customers are cautious as regards purchases, the workable level has gradually increased from $470/mt CFR last week to $475/mt CFR at the moment.
Offers for ex-China SAE1006 HRC have been heard from $480-485/mt CFR and $10/mt higher. A deal from China was done at $470-475/mt CFR Vietnam late last week.
Chinese mills announced prices increase for different grades HRC of $5/mt early this week. Sources said that the mills do not want to give prices below $465/mt FOB for SS400 HRC and $470/mt FOB for SAE1006.
Offers from South Korea for SAE1006 coils have been at $495/mt CFR Vietnam, stable compared to last week, and negotiations are in place at a slightly lower level, SteelOrbis has learned, but there has been no information about new deals. Ex-Japan HRC has been offered at the same level for April shipment, down $5/mt compared to last week.
Local HRC producer Formosa Ha Tinh is still offering at $520/mt CFR, with transactions with at least $10/mt discounts.
