Vietnamese steel plate market inactive
2015-04-24 08:51:41 [Print]
BEIJING (Asian Metal) 24 Apr 15 - The steel plate market runs slowly in Vietnam at the moment because of the soft demand from downstream industries. In addition, most traders are not so optimistic about the coming market and cautious about supplementing inventories.
A trader in Haiphong quotes VND11,000,000 (USD509.85/t) for SS400 12-20mm from China, the same as last week.
Majoring in importing materials from China and selling them inside Vietnam, the source holds a regular stock of 500t in hand and it is enough for around one-week’s sale. Considering export quotations from Chinese suppliers maintained unchanged recently and orders from customers are few, the source is not eager to supplement his inventory, preferring to watch the market cautiously.
Another trader in Hochiminh also offers VND11,000,000 (USD509.85/t) for SS400 12-20mm from China, equaling to last week.
Not being confident of the coming market, the source has reduced his stock from the regular level of 1,000t to a relatively low one of 300t. In addition, he does not plan to import materials in the coming week. “Although the demand for construction steel is becoming stronger in Vietnam due to increasing foreign investment, that for steel plate remains insufficient,” the source sighs. In addition, considering the rainy season is coming, he deems the market performance is hard to make progress in the coming month.
A trader in Haiphong quotes VND11,000,000 (USD509.85/t) for SS400 12-20mm from China, the same as last week.
Majoring in importing materials from China and selling them inside Vietnam, the source holds a regular stock of 500t in hand and it is enough for around one-week’s sale. Considering export quotations from Chinese suppliers maintained unchanged recently and orders from customers are few, the source is not eager to supplement his inventory, preferring to watch the market cautiously.
Another trader in Hochiminh also offers VND11,000,000 (USD509.85/t) for SS400 12-20mm from China, equaling to last week.
Not being confident of the coming market, the source has reduced his stock from the regular level of 1,000t to a relatively low one of 300t. In addition, he does not plan to import materials in the coming week. “Although the demand for construction steel is becoming stronger in Vietnam due to increasing foreign investment, that for steel plate remains insufficient,” the source sighs. In addition, considering the rainy season is coming, he deems the market performance is hard to make progress in the coming month.
