Posted on 16 Sep 2024
Vietnam’s hot rolled coil import market was quiet on Friday amid a rebound in offer prices from China, Kallanish notes. The market has been volatile, with prices zig-zagging in recent weeks.
Offers for 2mm and up thickness SAE 1006 HRC from China were heard at $480/tonne cfr Vietnam last Friday. Last week’s price gain nearly matches the price loss in the previous week. Values are moving back to the $485-490/t cfr seen for Chinese SAE 1006 HRC offers in the last week of August.
An offer for a 2,000-tonne Chinese-origin SAE 1006 HRC position cargo of 50% 2mm thickness and the remainder 2.3-2.75mm thickness material is floating in the market at $475/t cfr Vietnam. The offered cargo is for prompt shipment. A position 5,000t SAE 1006 HRC cargo was offered at $460/t cfr during the week through 6 September.
Similarly, offers for Q235/195 grade HRC for shipment by 10 October have risen by around $20/t to $470-472/t cfr Vietnam. Buyers are still aiming to book at the previous concluded level of $450-455/t cfr Vietnam during the week through 6 September, but offers, also for early-October shipment, have now risen to $470-472/t cfr.
A trader in southern Vietnam reports hearing some orders on 11-12 September for Chinese Q235 for early-October shipment at $460/t cfr. Others are unsure. “Demand is still low,” a Hanoi trader says.
SAE grade 2-2.7mm thickness HRC is assessed at $465-470/t cfr Vietnam, up $5/t. October shipments are favoured because of a pending anti-dumping probe on Chinese HRC and Vietnamese buyers’ fears of potential retroactive anti-dumping duties.
Source:Kallanish
