HRC trade on hold in Vietnam, prices up Far east / Flat Products

HRC import prices increased in Vietnam again over one week. Business activity, however, remained relatively slow, since most local buyers refused to sign new deals at higher level.

Indian exporters have increased their offers for HRC (SAe1006, 2 mm) by $10/t week-on-week to $470-475/t CFR for January shipment, and later at the end of the week to $480/t CFR. “A very limited quantity may be confirmed at this level, as Vietnamese customers are not ready to pay this much,” a market insider told Metal Expert.

offers from South Korea are coming to Vietnam at $475-480/t CFR for January shipment. According to the market insiders, several deals for around 10,000 t in total were signed at $470/t CFR at the beginning of this week. Another deal was reportedly done at $465/t CFR for 10,000 t of Taiwanese HRC for end-January shipment, Metal Expert learnt.

Suppliers from Japan were offering HRC at 480/t CFR, the same as last week. Meanwhile, most suppliers from China are out of the market. The indicative level stands at $475-480/t CFR. “We heard Magang offers HRC (SAe1006, 2 mm) at

$477/t CFR Vietnam, but no deals, as customers bid at $460-465/t CFR.