Posted on 03 May 2024
Vietnamese hot rolled coil producer, Hoa Phat Dung Quat, has increased its monthly domestic prices to reflect that the market's improvement from the lows seen last month, Kallanish notes.
The mill raised its list sales prices by $36-37/tonne for its latest domestic HRC price allocations on 2 May. The company's quotes for non-skin passed SAE1006 or SS400 grade HRC, due for delivery in July, have been set at the equivalent of around $577/t cfr southern Vietnam, excluding VAT.
In VND terms, the latest price of VND 14,670/kg to southern Vietnam is VND 930/kg lower than last month’s official monthly domestic price. The mill’s prices to northern and central Vietnam are set for this month at VND 14,640/kg.
Vietnamese users and rerollers will accept the latest prices, a Hanoi trader says. This is because Hoa Phat’s competitor, Formosa Ha Tinh, also priced its hot rolled coil for June/July shipment at the about the same price level in mid-March. Formosa’s HRC prices were officially set at around $575-591/t cfr Vietnam with the lowest price for tonnages exceeding 20,000t and the highest price for bookings of only 1,000t.
Meanwhile, certain suppliers are offering low tonnage position cargoes of 3-12mm thickness Q235 HRC from China at $532-535/t cfr Vietnam on Thursday despite the ongoing Labour Day holiday in China. “These are small volume offers, we are not bothered by them,” a Vietnamese trader says. He has seen an offer for 450t of specified thickness Q235B grade HRC from a certain Chinese mill at $532/t cfr for early shipment. Offers for specifiable thickness Q235 material were prevailing at $550/t cfr last Friday.
Source:Kallanish
