China 2 mm SAE 1006 HRC CFR Vietnam was offered CFR $690-700/ton for re-rolling. It has been announced that 3-12mm SS400 HRC offers are at around $650/ton CFR Vietnam. The price of imported 2-2.7mm SAE HRC is $685/t CFR Vietnam, an increase of $5 per week.
Market expectations that Formosa Ha Tinh Steel (FHS) will announce new HRC allocations in the coming days are said to have reduced import purchase interest. There are rumors that FHS will set a sale price of about $710/ton for its new allocations.
While the SAE 1006 HRC market is quite in the country, there have been several small tonnage deals for Chinese SS400 HRC recently. A Hanoi trader heard that some transactions had closed at the $646-647/ton CFR level, while a Chinese trader reported hearing an order for 1,000 tons at the $650/ton CFR level on March 9th. A South Vietnamese trader said on Friday that trading for SAE1006 and SS400 HRC was slow.
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