This week, offers for ex-China HRC to Vietnam have increased slightly following some rebound seen in HRC futures prices in China. However, sentiments among Vietnamese customers have not improved much as demand has remained weak and most buyers have been refraining from purchases in anticipation of the imposition of antidumping duty on ex-China imports.
After several deals signed in recent days at $495-500/mt CFR for December shipment, offers for ex-China Q235 HRC in Vietnam have been estimated at $500-505/mt CFR, Thus, offers prices for ex-China Q235 HRC have increased by $5/mt week on week.
Meanwhile, indicative offers for SAE1006 HRC have been voiced at $515-520/mt CFR for December shipment, mainly the same as last week, though market insiders have been reporting bids at $510/mt CFR. At the same time, according to sources, most Vietnamese buyers have been interested only in purchases for prompt shipment, as antidumping duty on ex-China HRC imports is expected to be imposed from early December.
At the same time, the gap between ex-China SAE1006 HRC prices and other foreign suppliers’ prices has been widening this week, with offers for ex-Japan SAE1006 HRC reported at $530-540/mt CFR for January shipment, while offers for ex-South Korea HRC have been heard at $530-535/mt CFR for January shipment. Besides, according to sources, traders have been offering ex-Indonesia SS400/SAE1006 HRC at around $550/mt CFR, down by $5/mt week on week. Indicative offers for ex-Taiwan SEA1006 HRC for January shipment have been voiced at even higher levels, at around $560/mt CFR, which is considered to be “impossible to accept”, according to sources.
Thus, the SteelOrbis reference price for import SAE1006 HRC has moved to $510-515/mt CFR, against $520/mt CFR last week, based on the most competitive ex-China offers and Vietnamese customers’ price ideas.