Vietnamese HRC prices soar
2016-03-10 08:42:02 [Print]
BEIJING (Asian Metal) 10 Mar 16 - HRC prices in Vietnam increase sharply this week, mainly boosted by soaring raw materials’ prices as well as traders’ rising purchase costs. The mainstream price of SS400 3.0mm imported from China is around VND9,000,000/t (USD414/t), up by VND1,000,000/t (USD46/t) over last week. Insiders foresee a firm price next week.
A trader in Binh Duong reported to Asian Metal that his price for SS400 3.0mm imported from China is VND9,000,000/t (USD414/t), increasing by VND1,000,000/t (USD46/t) compared with last week.
With a stock of 13,000t at hand against 16,000t in February, the source claimed that it is rising raw material price that boosted the current price increase of HRC. According to him, the price for iron ore has witnessed a markup of around 10% in recent two days, and that for steel billet has soared by 20% during the period in question. In addition, Chinese HRC producers are eager to raise export prices and most of them halt offering temporarily. Nevertheless, the source pointed out that as lots of end users refuse to accept the sudden price soar, the market remains dim. His average daily sales volume is 200t these three days, half of that last week. As a consequence, the source does not think the HRC price locally will go up further in the near future. He sold 13,000t in February.
Another trader in Phu Tho revealed his price for SS400 3.0mm imported from China is VND9,000,000/t (USD414/t), VND1,000,000/t (USD46/t) higher than that of last week.
Attributing the price increase to rising prices in Chinese domestic market, the major origin for Vietnamese HRC, the source revealed that the HRC price for regular grade in China increased by 22% in past two days, and local producers are eager to lift prices for the moment. “I have not received any offers from Chinese mills by now this week to date, since they are incubating to raise prices sharply,” added the source. Holding a stock of 3,000t at hand, his sales volume was 100t on Wednesday, one-third of the projected level. The source sold 2,000t in February.
A trader in Binh Duong reported to Asian Metal that his price for SS400 3.0mm imported from China is VND9,000,000/t (USD414/t), increasing by VND1,000,000/t (USD46/t) compared with last week.
With a stock of 13,000t at hand against 16,000t in February, the source claimed that it is rising raw material price that boosted the current price increase of HRC. According to him, the price for iron ore has witnessed a markup of around 10% in recent two days, and that for steel billet has soared by 20% during the period in question. In addition, Chinese HRC producers are eager to raise export prices and most of them halt offering temporarily. Nevertheless, the source pointed out that as lots of end users refuse to accept the sudden price soar, the market remains dim. His average daily sales volume is 200t these three days, half of that last week. As a consequence, the source does not think the HRC price locally will go up further in the near future. He sold 13,000t in February.
Another trader in Phu Tho revealed his price for SS400 3.0mm imported from China is VND9,000,000/t (USD414/t), VND1,000,000/t (USD46/t) higher than that of last week.
Attributing the price increase to rising prices in Chinese domestic market, the major origin for Vietnamese HRC, the source revealed that the HRC price for regular grade in China increased by 22% in past two days, and local producers are eager to lift prices for the moment. “I have not received any offers from Chinese mills by now this week to date, since they are incubating to raise prices sharply,” added the source. Holding a stock of 3,000t at hand, his sales volume was 100t on Wednesday, one-third of the projected level. The source sold 2,000t in February.
