The re-rolled hot rolled coil segment is on the rise after several weeks of stability. SAE 1006 HRC offers from China have increased from the $555-560/ton range to a minimum of $580-585/ton cfr Vietnam in recent weeks. There are also higher offers with prices exceeding $600/ton cfr.
Sellers noted that offers are currently at $575/ton cfr and emphasized that buyers are restocking for the new year. HRC in SAE grade 2-2.7 mm thick was assessed at $575-580/ton cfr Vietnam, up $20 on the week.
For Chinese Q235 in 3-12 mm thickness, suppliers raised their export offers to around $560/ton cfr Vietnam from $548-550/ton cfr the previous week. Current offers for Chinese SS400, SPHC and Q195 grade HRC also stand at around $560/ton cfr. These offers are for shipments in early January. Deals for Q235 HRC were last concluded at around $530-532/ton cfr in early November, following the low levels of $518-520/ton cfr four weeks ago.
In a summary, hot rolled coil prices in Vietnam have been on the rise amid higher steel futures prices in China and buyers' increased demand for restocking for the new year.
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