The Vietnamese import market for hot rolled coil is weak amid extended movement curbs to counter soaring Covid-19 cases in Ho Chi Minh City and other areas in the southern region. A recent deal earlier this week shows buyers are unwilling to pay up.
A booking for Russian SAE 1006 HRC for October shipment was ordered on 2 August at $908/ton CFR southern Vietnam. The 10,000-20,000-tonne parcel was ordered because it was the lowest-priced in the market, Vietnamese trading sources say. Indian-origin SAE1006 HRC is currently offered at $925-930/t CFR Vietnam. An order for a 30,000tcargo of Indian SAE 1006 HRC previously concluded at $920/t CFR on 26 July.
An Indian mill is currently offering HR in the market at $910/t CFR Vietnam. It sold SS400 grade HRC on 27July at $900/t CFR. There is a minimum order requirement of 20,000t for the Indian HRC, but sellers are unable to combine the order, a Vietnamese trader reported on Wednesday. Buyers were counterbidding the Indian offer at$890/t CFR earlier this week. "Demand is slow; the market is very quiet," he says.
Chinese mills’ export prices for SAE1006 HRC are at a minimum of $1,000/t CFR Vietnam, making Chinese HRC uncompetitive, Chinese traders say.
An offer for Chinese SAE 1006HRC is heard this week at $1,000/t CFR Vietnam, down from above $1,020/previously. While Chinese mills previously wanted importers to bear the burden for a rumored pending export tax on Chinese HRC, this particular Chinese supplier is more flexible. “Customers and sellers will discuss if an export taxi announced,” a Vietnamese trader says of HRC export sales contracts from this particular Chinese mill.
The Chinese offer price at $1,000/tis still too high for the Vietnamese buyer and the export tax is still an issue for buyers, a Chinese trader says. On the other hand, exporting HRC is no longer the core business for Chinese mills, he adds.
Short comments: The downturn in Vietnam market does not affect the increase of steel price, which is still on the rise recently. Interested customers, please confirm with us the price of Drum closure and Metal Cap SEAL as soon as possible.
VOCs Governance Potential Security RisksJuly 1, 2022In the process of VOCs governance, there are some security risks, if not accurately identified, it may cause a security accident. Combined with the common environmental protection transformation metho...viewFirst Quarter Performance Review Of PetroChinaJuly 1, 2022Intensify exploration and development and strive to increase efficiency and output.The company made great efforts to stabilize oil and increase gas, and produced 373 million barrels of oil and gas equ...view
Metal Waterproof Cap SealJanuary 6, 2024Metal waterproof cap seal is a sealing cap commonly used to protect cosmetics, food, drugs, and other easily contaminated products. It has excellent waterproof and sealing performance, effectively pre...view
What Are the Recommended Colors for Steel Drum in Global Market?January 3, 2023The latest recommended color standard for steel drums issued by the International Steel Drum Organization, among which the ICDM steel drum color standard has been affirmed by many parties and recommen...view
Sudden! Container Ship Bound For The United Arab Emirates May Explode Due To Steel Barrel LeakageJuly 1, 2022According to the Russian Satellite News Agency, on the evening of July 7th, a container ship moored at Jebel Ali port in Dubai, UAE accidentally caught fire and exploded. A huge fireball lit up the ni...view
The 20th China Iron And Steel Raw Materials International SymposiumJune 30, 2022Time: September 27-28, 2021Venue: Shangri-La Hotel dalianSponsor: China Iron and Steel AssociationSponsor: Metallurgical Industry Branch of China Council for the Promotion of International TradeOrgani...view
EN
ko 
fr 
de 
es 
it 
ru 
pt 
ar 
vi 
th 
