Vietnamese HRC market inactive
2016-08-11 08:56:44 [Print]
BEIJING (Asian Metal) 11 Aug 16 - Though some traders are eager to lift prices seeing rising purchasing costs, the overall HRC price in Vietnam keeps generally stable for the moment, in line with a slow market. The mainstream price of SS400 4.0-12mm imported from China is VND9,200,000/t (USD412/t) VAT included. Insiders foresee a firm price in coming several days.
A trader in Phu Tho reported to Asian Metal that his price for HRC SS400 4.0-12mm imported from China is VND9,200,000/t (USD412/t), stable compared with last Friday.
Holding a low stock of 1,000t at hand against 2,000t in March-April, the source does not plan to replenish the stockpile in the near future, complaining thin profit caused by the rising purchasing cost. “Prices from Chinese mills are a little bit chaotic right now, ranging from USD390-400/t CFR Haiphong, but our selling price here is only USD412/t and there is almost no profit gained when transportation and other fees are taken into consideration,” he disclosed. With the current sales volume of 20-30tpd against 100tpd in early March, the relatively peak season, the source sold 1,000t in July.
Another trader in Bing Duong revealed that his price for HRC SS400 4.0-12mm imported from China is VND9,200,000/t (USD412/t), equivalent to last Friday.
According to the source, the price he received from Chinese Baotou Steel is as high as USD400/t CFR Haiphong this week, soared by USD15/t over last week, so that most local traders like him are eager to move prices up by VND200,000/t (USD9/t), but downstream customers refuse to purchase at higher prices. “The rigid demand is absent since continuous rains make the progress of construction projects slow down obviously. Besides, end users are inactive in building large stocks and just purchase according to urgent needs,” explained the source, with the sales volume of 3,000t in recent one week, against 4,500t per week in late July. The source sold 15,000t totally in last month. Holding a stock of 15,000t at hand, lower than the regular level of 18,000t, he refuses to supplement the inventory in the short term after an order of 4,000t last week, with wait-and-see attitude.
A trader in Phu Tho reported to Asian Metal that his price for HRC SS400 4.0-12mm imported from China is VND9,200,000/t (USD412/t), stable compared with last Friday.
Holding a low stock of 1,000t at hand against 2,000t in March-April, the source does not plan to replenish the stockpile in the near future, complaining thin profit caused by the rising purchasing cost. “Prices from Chinese mills are a little bit chaotic right now, ranging from USD390-400/t CFR Haiphong, but our selling price here is only USD412/t and there is almost no profit gained when transportation and other fees are taken into consideration,” he disclosed. With the current sales volume of 20-30tpd against 100tpd in early March, the relatively peak season, the source sold 1,000t in July.
Another trader in Bing Duong revealed that his price for HRC SS400 4.0-12mm imported from China is VND9,200,000/t (USD412/t), equivalent to last Friday.
According to the source, the price he received from Chinese Baotou Steel is as high as USD400/t CFR Haiphong this week, soared by USD15/t over last week, so that most local traders like him are eager to move prices up by VND200,000/t (USD9/t), but downstream customers refuse to purchase at higher prices. “The rigid demand is absent since continuous rains make the progress of construction projects slow down obviously. Besides, end users are inactive in building large stocks and just purchase according to urgent needs,” explained the source, with the sales volume of 3,000t in recent one week, against 4,500t per week in late July. The source sold 15,000t totally in last month. Holding a stock of 15,000t at hand, lower than the regular level of 18,000t, he refuses to supplement the inventory in the short term after an order of 4,000t last week, with wait-and-see attitude.
