It was stated that Vietnam's hot rolled coil import market is lackluster. According to information received by local trade sources, demand is weak and deals are limited.
In the week ending January 12, a Vietnamese stockist reportedly booked 20,000 tonnes of SAE 1006 grade HRC of 2 mm and above thickness for March shipment from a Tier 1 Indian facility. This booking was made at $610-615/t CFR Ho Chi Minh City (HCMC).
A small tonnage of the SAE 1006 HRC grade from a Chinese mill was settled last week at $590-595/t cfr Vietnam, a Chinese seller reported. On the other hand, offers from popular Chinese producers for SAE 1006 HRC are at $610/ton CFR Vietnam.
The domestic market is also weak. The domestic producer, Formosa Ha Tinh Steel (FHS), tried to secure its sales by offering discounts of $10-15/ton to market participants. Prices for March/April shipment of SAE 1006 HRC were set at $647-655/t CIF Vietnam on January 12; The lowest price was $647/ton CFR valid for orders of 20,000 tons and above.
SAE quality 2-2.7 mm thick HRC prices are at $590-600/ton CFR Vietnam, down $2.5 week on week.
At the same time, offers of common quality 3-12 mm thick Q235 HRC rose slightly to $565/t CFR on Friday. These prices come at a time when bookings were at $560-562/t CFR at the beginning of the week.
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