Posted on 06 Mar 2023
The hot rolled coil market remains strong in Vietnam, Kallanish notes, while Chinese HRC export prices keep rising.
Some Vietnamese buyers are bidding for Q1195 HRC from China at $645/tonne cfr Vietnam. A prompt shipment of Chinese-origin Q195 HRC was booked at $645/t cfr Vietnam. The 1,000-2,000-tonne cargo is due for early-April shipment.
Chinese prices rose sharply on Friday, with quotes for Q195 HRC hiking to at least $655/t cfr, a Hanoi trader says. He believes customers will have to accept the increases soon.
Suppliers have also hiked offers for 3mm up thickness SS400 HRC from the smaller Chinese mills to $650/t cfr Vietnam. A Chinese trader explains he raised his offers to this higher level because he was actually unwilling to sell material at the current time. He is receiving bids at $635/t cfr, he adds. SS400 HRC was quoted at $635-640/t cfr at the start of last week.
Domestic producer Hoa Phat released its domestic allocations for HRC for April/May shipments on 8 March. Its non-skin passed SAE1006 or SS400 grade HRC was set at the equivalent of around $683/t cfr Ho Chi Minh City, up by about $30/t on-month. The company will close orders for its latest HRC offering on 7 March.
Offers for Chinese SAE1006 2mm up thickness HRC are prevailing at a minimum of $690/t cfr Vietnam. A trader reports receiving an offer for a 1,000t April-shipment position cargo of SAE 1006 HRC from China at $688/t cfr, up from $680/t cfr earlier in the week. The import market for SAE 1006 HRC is quiet, with buying interest thin. Kallanish assessed imported SAE grade 2-2.7mm thickness HRC at $680/t cfr Vietnam, up $5 on week.
Source:Kallanish
