Vietnam's imported HRC market has witnessed a significant price hike for HRC imported from China as China implemented the largest stimulus package since the COVID-19 pandemic. By the end of the week, Chinese offers for Q235 HRC in 3-12mm thickness scheduled for November shipment reached USD 495-500 CFR per ton. In just 7-10 days, prices rose by USD 35-40 per ton, reflecting the rapid changes in the market.
Meanwhile, Vietnamese buyers turned to South Korean and Japanese suppliers for rerolling grade HRC. A total shipment of 30,000-35,000 tons of Japanese SAE 1006 HRC was ordered last week at USD 495-500 per ton CFR. In addition, a South Korean SAE 1006 HRC order of 20,000-30,000 tons was secured at USD 490 per ton CFR during the week of September 20.
Recently, Japanese SAE 1006 HRC was offered at higher prices, reaching USD 510 per ton in Vietnam. Chinese SAE 1006 HRC offers have been limited in the market and many buyers are waiting for the end of the China holidays to show renewed interest. HRC in SAE grade 2-2.7mm thickness was assessed at USD 495-500 per ton CFR, reflecting a USD 25 increase per ton.
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