Following the continuous fluctuations of import HRC prices caused by ups and downs in Chinese offers especially for Q195/SS400 HRC this week, Vietnamese customers have been cautious in terms of new purchases. At the same time, according to sources, although offers for SAE1006 HRC have been maintained at high levels, most Vietnamese buyers’ ideas for SAE1006 HRC have been below the $600/mt CFR level.
Offers for ex-China SAE1006 HRC from mills have been voiced in Vietnam at $605-610/mt CFR, mainly the same as last week. According to market insiders, no deal has been reported so far, as mills have not been ready to provide discounts to the few customers who have been ready to deal at below $600/mt CFR this week. At the same time, several offers from Chinese traders in positions have been heard at around $597/mt CFR and, although no deals have been confirmed by the time of publication, market insiders said talks are underway.
Ex-China offers for Q195 and SS400 HRC have been fluctuating this week, with most offers at $570-575/mt CFR by the end of the week, versus $565-570/mt CFR at the beginning of the week and returning to the levels seen at the end of last week. According to sources, several deals for small quantities have been done this week, but for mainly Q235 HRC at above $565/mt CFR for March shipment, against deals at $562-563/mt CFR last week.
Meanwhile, most offers for ex-India SAE1006 HRC have been voiced at $625/mt CFR, against $625-635/mt CFR last week, while a few offers have also been heard at $615/mt CFR, with no new deals reported so far though.
The SteelOrbis reference price for import SAE1006 HRC has settled at $600/mt CFR, versus $600-605/mt CFR since, although foreign suppliers have been offering at unchanged high levels and some Chinese sellers are even becoming more bullish emphasizing stronger HRC futures prices, most Vietnamese customers have kept targeting additional discounts.