Posted on 29 Apr 2024
The Vietnamese import market continued to be sluggish during the past week on firm Chinese hot rolled coil offers, Kallanish notes.
Vietnamese buyers are slow to accept these offers, which were supported by Shanghai steel futures and iron ore markets. Cheaper quotes were also being withdrawn amid concerns of a crackdown on VAT evasion.
Rerolling 2mm and up thickness SAE 1006 HRC from China for June shipment is being offered at $555-560/tonne cfr Vietnam. There are hardly any firm bids, a Hanoi trader says. Another reports hearing a booking for 2-3mm HRC at under $550/t cfr during the week through 26 April. But others do not hear of any bookings taking place. Bids for SAE 1006 HRC were last heard at $540-545/t.
Offers for 3-12mm thickness Q235B HRC from China for June shipment are prevailing at $550/t cfr Vietnam, up by $10/t on-week. "Suppliers are inviting bids at $545 but I don’t hear of bookings,” a southern Vietnam trader says. “Bids for Q235 are very low, at $535,” a northern Vietnam trader notes.
Kallanish assessed SAE grade 2-2.7mm thickness HRC at $550/t cfr Vietnam, unchanged on-week.
Source:Kallanish
