Posted on 27 Jan 2025
The Vietnamese import market for hot rolled coil saw minimal activity last week as buyers were preparing to take leave for the Lunar New Year holiday, Kallanish notes.
Chinese suppliers had also withdrawn offers for HRC ahead of the holiday. "I don’t have any firm offer today," a Vietnamese trader says. "My Chinese side do not want to discuss some bids either," he adds.
The market has been quieter than usual as the uncertainty over as a pending anti-dumping case against Chinese HRC continues. Buyers are concerned that possible anti-dumping duties loom after the holiday. “Buyers need to consider carefully,” a Hanoi trader says. The Vietnamese lunar new year (Tet) holiday is officially from 25 January to 2 February.
Non-Chinese SAE 1006 HRC suppliers are taking the opportunity to fill in the potential import supply gap. An Indonesian mill’s price target for 3-12mm thickness SAE 1006 grade HRC for shipment by end-March is around $495/t cfr, unchanged from the week through January 17.
Bidders can still negotiate on the price, informed sources say. In fact, certain traders are inviting bids for 3-12mm SAE 1006 HRC from the same Indonesian mill at $485-495/t cfr. The mills charges a $10/t extra for 2.0-2.99mm thickness SAE 1006 HRC.
South Korean-origin 2mm and up thickness SAE 1006 HRC offers are estimated at around $505-515/t cfr Vietnam. SAE grade 2-2.7mm thickness HRC was assessed by Kallanish at $490-495/t cfr Vietnam, down $2.5/t week-on-week.
Source:Kallanish
