Posted on 27 Feb 2023
The hot rolled coil market is firm in Vietnam, Kallanish notes. Domestic producer Formosa Ha Tinh has sold its April shipment allocations which were released in mid-February, company sources confirmed on Thursday.
The mill on16 February had announced that the April-shipment price for non-skin-passed SAE 1006/SS400 HRC was pegged at the equivalent of $694/tonne cif Vietnam. This was nearly $60/t higher from last month.
Formosa’s monthly HRC sales are usually around 300,000-350,000t. A mill manager in Hanoi estimates that for the recent round, the producer sold 160,000t domestically and 170,000t in export markets. The Vietnamese rerollers are currently having good export sales for coated steel, a Vietnamese trader says on the good order take-up.
Offers for position cargoes of Chinese SAE 1006 2mm and up thickness HRC are currently heard at $680-685/tonne cfr Vietnam. A trader says that he has an offer for 3,000t of Magang SAE 1006 HRC for April shipment. This was still available on Friday. Trading sources note that 2mm up thickness SAE 1006 HRC from China for April shipment was recently ordered at $673/t cfr Vietnam. Kallanish assessed imported SAE grade 2-2.7mm thickness HRC at $675/t cfr Vietnam, up $7.5 on week.
Chinese SS400/Q195 HRC is currently offered at $650/t cfr Vietnam for 3mm and up thickness material. Position cargoes of SS400 grade HRC are heard offered at $640/t cfr. Chinese Q355 grade HRC is offered at $668/t cfr and for chequered HRC $660/t cfr.
Source:Kallanish
