Vietnamese HRC prices down
2016-05-06 09:05:27 [Print]
BEIJING (Asian Metal) 6 May 16 - HRC prices went down by VND200,000/t (USD9/t) in Vietnam this week due to downward price trend from China, one of the major origins for Vietnamese HRC. The mainstream price of SS400 4.0-12mm imported from China is VND10,800,000-11,000,000/t (USD498-507/t) VAT included. Insiders foresee another price decline next week seeing the stagnant market.
A trader in Binh Duong reported to Asian Metal that his price for SS400 4.0-12mm imported from China is VND11,000,000/t (USD507/t), down by VND200,000/t (USD9/t) over last Friday.
Attributing the price decline to decreasing purchasing costs, the source explained that the export price from Chinese steel mills decreased by USD10-20/t this week, and traders in Vietnam have to cut prices accordingly. Besides, considering prices in Chinese domestic market keep decreasing and export prices there are inevitably to go down further in the near future, most traders here are not confident of the market outlook and refuse to build large stocks. “The price decline heightens end users’ cautious attitudes, and they postpone purchasing plans,” added the source, with the sales volume of 3,000t in recent one week, against 4,000tpw at the end of April. Holding a stock of 13,000t, lower than 16,000t of last month, the source does not plan to replenish it in following two weeks, and he sold 13,000t totally in April.
Another trader in Phu Tho revealed his price for SS400 4.0-12mm imported from China is VND10,800,000/t (USD498/t), decreasing by VND200,000/t (USD9/t) compared with last Friday.
The source confirmed it is the decreasing purchasing cost that caused the current price decline in Vietnam. “The price for the above grade from major steel mills declined by USD10/t to USD460-470//t CFR Haiphong this week, and it seems that mills there are not so confident of the current price and worried about a further price decrease, so I refuse to place orders now,” reported the source, holding a stock of 4,000t at hand, against 5,000t in March-April. In the meantime, he claimed that both traders and customers locally are keeping keen eyes on the market, and the overall market performance remains unsatisfactory. His sales volume was zero on Thursday, against 100tpd of last week. He sold 3,000t totally in April.
A trader in Binh Duong reported to Asian Metal that his price for SS400 4.0-12mm imported from China is VND11,000,000/t (USD507/t), down by VND200,000/t (USD9/t) over last Friday.
Attributing the price decline to decreasing purchasing costs, the source explained that the export price from Chinese steel mills decreased by USD10-20/t this week, and traders in Vietnam have to cut prices accordingly. Besides, considering prices in Chinese domestic market keep decreasing and export prices there are inevitably to go down further in the near future, most traders here are not confident of the market outlook and refuse to build large stocks. “The price decline heightens end users’ cautious attitudes, and they postpone purchasing plans,” added the source, with the sales volume of 3,000t in recent one week, against 4,000tpw at the end of April. Holding a stock of 13,000t, lower than 16,000t of last month, the source does not plan to replenish it in following two weeks, and he sold 13,000t totally in April.
Another trader in Phu Tho revealed his price for SS400 4.0-12mm imported from China is VND10,800,000/t (USD498/t), decreasing by VND200,000/t (USD9/t) compared with last Friday.
The source confirmed it is the decreasing purchasing cost that caused the current price decline in Vietnam. “The price for the above grade from major steel mills declined by USD10/t to USD460-470//t CFR Haiphong this week, and it seems that mills there are not so confident of the current price and worried about a further price decrease, so I refuse to place orders now,” reported the source, holding a stock of 4,000t at hand, against 5,000t in March-April. In the meantime, he claimed that both traders and customers locally are keeping keen eyes on the market, and the overall market performance remains unsatisfactory. His sales volume was zero on Thursday, against 100tpd of last week. He sold 3,000t totally in April.
