Posted on 09 Dec 2024
The Vietnamese hot rolled coil market continues to trade sluggishly, Kallanish notes. There were several import deals heard last week which are deemed risky. These cargoes could be levied with anti-dumping duties if the pending trade case targeting HRC from China and India announces measures before their arrival.
Several lots of Chinese Q235B grade 1,500mm width HRC were booked on 5 December at $490/tonne cfr Vietnam, trading sources in Vietnam say. The cargoes are due for January/February shipment which make them liable to possible AD action if the case is wrapped up in the next few months. Many market participants in Vietnam expect retroactive or preliminary duties to be levied at anytime.
Offers for Chinese Q235B grade 2,000mm width HRC for February shipment are at $500-505/t cfr Vietnam. This wider width is outside the scope of the imported products being investigated in the anti-dumping case. Service centres have been buying wider-width HRC in the last two months.
A stock lot of Chinese SAE 1006 2mm and up thickness HRC for prompt, December shipment, which was offered at $500/t cfr, has not been taken up so far, traders say. There are also position cargoes available of SAE 1006 HRC from a popular Chinese mill at $510/t cfr. An offer for Chinese 1,250mm width SAE1006 for January/February shipment is heard at $505/t cfr.
SAE grade 2-2.7mm thickness HRC is assessed at $505-515/t cfr Vietnam, down $5 on-week.
Source:Kallanish
