Posted on 03 Mar 2025
The Vietnamese hot rolled coil market has risen after preliminary anti-dumping duties were levied on Chinese HRC, Kallanish notes.
Suppliers of HRC have hiked offers under the assumption that most of China’s HRC supply will be cut off from the Vietnamese market when duties of 19.38-27.83% take effect from 8 March.
Indian suppliers have returned to the marketplace with one mill offering 2mm+ thickness SAE 1006 HRC at $530/tonne cfr Vietnam, Vietnamese trading sources report.
South Korean HRC of the same thickness and grade is offered at $520/t cfr. “The offers are too high,” a Hanoi trader says.
Rumours were heard of a large order for Indian-origin HRC at $505/t cfr southern Vietnam. But market sources were not able to confirm the deal. A booking for Japanese SAE 1006 HRC was meanwhile heard concluded at $490-495/t cfr Vietnam a few days before the anti-dumping duties were announced.
Indonesian-origin 3-12mm SS400 grade HRC was offered last Friday at $508/t cfr and 2-2.99mm HRC at $518/t cfr. These offers are for Phu My, Ho Chi Minh and Hai Phong cfr basis and shipment by 31 April.
“Traders or the mill are just marking the prices up,” say a Vietnamese trader, who notes the 28 February offers are $8/t higher from the day before.
“Nothing really special happened today for an increase like that [to be justifiable],” he said on Friday.
Chinese wide-width HRC prices continue to inch upwards. Several deals for 2,000mm width 3-12mm thickness HRC from China were transacted at $484/t cfr, up from $481-482/t cfr on 24 February.
Kallanish assessed SAE grade 2-2.7mm thickness HRC at $500/t cfr Vietnam, up $10/t on-week.
Some market sources expect domestic producer Hoa Phat to hike its monthly domestic HRC prices by around $20-25/t in the next few days. Hoa Phat’s non-skin passed SAE1006 or SS400 grade HRC for April delivery was previously pegged at around $507/t cfr southern Vietnam, excluding VAT.
The anti-dumping duties on Chinese HRC remain valid until 5 July 2025 and the final investigations are expected to be completed by 26 July 2025.
Source:Kallanish
