Vietnamese wire rod market inactive
2014-11-03 09:06:41 [Print]
BEIJING (Asian Metal) 3 Nov 14 - The wire rod market in Vietnam is slow and the price is currently stable. The demand from downstream buyers is not strong, but insiders predict that the price will be steady in November, which is the traditional high season.
A construction steel trader in Hanoi reported that the price of wire rod TCVN1651-85 Φ6-8mm from local mills is VND12,900,000/t (USD607/t) VAT included, unchanged compared with that of last week.
The source said the market is not active because the demand from buyers is soft when they see the price in China is on a downward trend. The source’s stock increases to 20,000t from previous one of 10,000t. “A large amount of products imported from China arrived recently, so I will focus on promoting sales rather than purchase more,” he said. However, he deemed that the market price will be stable in a short term because most importers have purchased enough products, and there will not be many products arriving in November and December.
Another construction steel trader in HCMC reported that the price of wire rod SAE1008 Φ6-8mm imported from China is VND11,000,000/t (USD518/t) VAT included, unchanged compared with that of last week.
According to the source, the local market is slow and it is hard to make money. “In order to finish the sales task of 10,000tpm, I cut the profit to VND50,000-100,000/t (USD2.3-4.7/t),” he said. Nevertheless, considering that November is the traditional high season for construction steel market, the source deemed that the price will be stable in the short term.
A construction steel trader in Hanoi reported that the price of wire rod TCVN1651-85 Φ6-8mm from local mills is VND12,900,000/t (USD607/t) VAT included, unchanged compared with that of last week.
The source said the market is not active because the demand from buyers is soft when they see the price in China is on a downward trend. The source’s stock increases to 20,000t from previous one of 10,000t. “A large amount of products imported from China arrived recently, so I will focus on promoting sales rather than purchase more,” he said. However, he deemed that the market price will be stable in a short term because most importers have purchased enough products, and there will not be many products arriving in November and December.
Another construction steel trader in HCMC reported that the price of wire rod SAE1008 Φ6-8mm imported from China is VND11,000,000/t (USD518/t) VAT included, unchanged compared with that of last week.
According to the source, the local market is slow and it is hard to make money. “In order to finish the sales task of 10,000tpm, I cut the profit to VND50,000-100,000/t (USD2.3-4.7/t),” he said. Nevertheless, considering that November is the traditional high season for construction steel market, the source deemed that the price will be stable in the short term.
