News Room - Steel Industry

Posted on 21 Feb 2024

Chinese HRC prices dip in Vietnam

Vietnam’s hot rolled coil import market has seen prices fall this week, Kallanish notes. Suppliers of Chinese HRC cut prices amid weakened market sentiment and a downturn in steel futures in China. With market participants away for the long Lunar New Year holiday, trading effectively resumed only this week.

Offers for 3-12mm thickness Q235 and 3mm thickness Q195 HRC from China are prevailing at around $550-555/tonne cfr Vietnam. Several deals for Q235 HRC were concluded on Tuesday morning at around $550/t cfr. But in the afternoon, buyers lowered bids and no further deals transpired, Vietnamese trading sources say.

"The price of HRC is down sharply," a Ho Chi Minh trader notes. She hears of a small-volume order at $552/t cfr done on Tuesday morning. "But now, Q235 HRC is offered at $550 and everyone gives a lower bid of around $545," she adds. Chinese 3-12mm thickness Q235 HRC offers were heard at $557-558/t cfr Vietnam in early February before the market closed for the Lunar New Year celebrations.

Rerolling 2mm and up thickness SAE 1006 HRC from China is currently offered at $585-590/t cfr Vietnam. Most offers of Chinese SAE 1006 HRC were prevailing at around $600/t cfr in early February. Trading sources said on Tuesday they have not heard of recent deals taking place for SAE 1006 HRC.

Source:Kallanish