The Vietnamese hot rolled coil market was quiet last week due to suppliers' long holiday in China. However, many buyers resumed purchasing commercial grade hot rolled coil, ordering Q235 and Q195 grade 3mm base thickness HRC from China at $530-535/tonne cfr Vietnam.
The recent orders totaled around 120,000 tonnes. The import market for re-rolling HRC was quieter, with limited offers from China. Vietnamese traders heard limited offers for 2-2.5mm thickness SAE 1006 HRC at $570/t cfr and a less popular mill's SAE 1006 HRC at $565/t cfr, but this is for 30% 2mm thickness of the total cargo.
Vietnamese buyers are choosing to buy SAE 1006 grade HRC from local mills, Formosa Ha Tinh and Hoa Phat, as the cost of imported material has risen due to a stronger dollar. The USD has strengthened by roughly 2% against the dong within a month, making Chinese HRC significantly more expensive in VND.
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