HRC market tranquil in Vietnam
2015-12-31 09:06:59 [Print]
BEIJING (Asian Metal) 31 Dec 15 - With the approach of the New Year holiday (January 1-3), most HRC end users in Vietnam have retreated from the market in advance, leading to a quiet market. Meanwhile, prices keep firm. Currently the prevailing price of SS400 3.0mm imported from China is around VND7,500,000/t (USD334/t). Insiders foresee a stable price next week.
A trader in Binh Duong tells Asian Metal that his quotation for SS400 3.0mm imported from China is VND7,500,000/t (USD334/t), the same as last week.
With the sales volume of 16,000t in November, the source estimates it will be 13,000-14000t in December, while the average sales volume is 17,000t per month at the beginning of the year. Noted by him, the market remains slow when it enters December with the approach of the New Year and the Lunar New Year, and downstream customers just purchase according to urgent needs instead of in large quantities. Nevertheless, the upward price trend of HRC from China, the major origin of his materials, restrains the price in Vietnam from dropping. He discloses that the offer he received from China’s Yanshan Steel for SS400 3.0mm is USD270/t CFR HCM this week, up by USD10/t over that of two weeks ago.
Another trader in Phu Tho also quotes VND7,500,000/t (USD334/t) for SS400 3.0mm imported from China, unchanged over last week.
According to the source, the HRC market is performing inactively in Vietnam at the moment since everybody is waiting for the New Year holiday, and both traders and customers are inactive in concluding deals. His current sales volume is around 60t per day, while it was 150tpd at the beginning of the year. Holding a low stock of 5,000t in hand against the highest level of 10,000t, he is watching the market cautiously and does not plan to supplement the inventory in following two weeks.
A trader in Binh Duong tells Asian Metal that his quotation for SS400 3.0mm imported from China is VND7,500,000/t (USD334/t), the same as last week.
With the sales volume of 16,000t in November, the source estimates it will be 13,000-14000t in December, while the average sales volume is 17,000t per month at the beginning of the year. Noted by him, the market remains slow when it enters December with the approach of the New Year and the Lunar New Year, and downstream customers just purchase according to urgent needs instead of in large quantities. Nevertheless, the upward price trend of HRC from China, the major origin of his materials, restrains the price in Vietnam from dropping. He discloses that the offer he received from China’s Yanshan Steel for SS400 3.0mm is USD270/t CFR HCM this week, up by USD10/t over that of two weeks ago.
Another trader in Phu Tho also quotes VND7,500,000/t (USD334/t) for SS400 3.0mm imported from China, unchanged over last week.
According to the source, the HRC market is performing inactively in Vietnam at the moment since everybody is waiting for the New Year holiday, and both traders and customers are inactive in concluding deals. His current sales volume is around 60t per day, while it was 150tpd at the beginning of the year. Holding a low stock of 5,000t in hand against the highest level of 10,000t, he is watching the market cautiously and does not plan to supplement the inventory in following two weeks.
