Posted on 26 Jun 2023
Vietnam’s hot rolled coil import market was quiet during last week on account of the holiday in China, Kallanish notes. Offers from China were at about the same firm levels as in the previous week, through 16 June, before suppliers went on holiday on Thursday.
Most Chinese mills are aiming to export 2-2.5mm thickness SAE 1006 HRC at $580/tonne cfr Vietnam upwards. A Chinese mill was offering its SAE 1006 HRC at $585/t cfr on Wednesday, says a trader in Ho Chi Min City. He reports the mill managed to sell a large tonnage at $580/t cfr earlier in the week.
Most other trading sources did not hear of this deal. A mill manager says he has doubts about the deal because the market was extremely quiet. “But I think that prices will increase slightly for the short term.”
Kallanish maintained SAE grade 2-2.7mm thickness HRC at $575-580/t cfr Vietnam.
Another trader received an offer on 19 June for 5,000 tonnes of 2.75mm-3mm Q195 HRC from a lower-tier Chinese mill. The lot is for shipment by end-July at an effective price of $560/t cfr Vietnam.
Source:Kallanish
