Vietnamese HRC prices not to go down further
2015-05-20 08:47:20 [Print]
BEIJING (Asian Metal) 20 May 15 - The HRC prices in Vietnam witnessed a total markdown of around VND400,000/t (USD18.37/t) in recent one month, but most traders do not think they will keep the downward trend in coming weeks with the releasing demand. Insiders foresee a stable price next week.
A trader from Hohiminh City quotes VND9,700,000/t (USD445.6/t) 10% VAT included for SS400 3.0mm*1,250mm*C imported from China, the same as the previous trading day.
According to the source, the price decline in past one month was mainly because of the decreasing purchase costs. He explains that with the depreciation of JPY against dollars, Japanese steel mills cut export quotations by USD20/t, with the quotation for SPHC 2.0mm*1,250mm*C at USD390/t CFR HMC. Meanwhile, with increasing investment from foreign countries, the demand for flat steel is releasing day by day following that for construction steel, and thus the price is unlikely to go down further in the short term. Currently the source holds zero stock in hand and is replenishing the inventory gradually.
Another trader in Phu Tho offers VND1,000,0000/t (USD459.3/t) 10% VAT included for SS400 3.0mm*1,250mm*C imported from China, unchanged over last trading day.
Majoring in importing materials from China and selling in Vietnam, currently the source holds a low stock of 2,000t in hand, against the regular level of 3,000t. He informs that as most of his suppliers in China keep quotations stable, with the price of the above grade at USD370/t CFR Haiphong, he does not plan to decrease his offers again in the near future. Meanwhile, considering the rainy season is coming and the demand is likely to shrink, he deems the price is hard to go up.
A trader from Hohiminh City quotes VND9,700,000/t (USD445.6/t) 10% VAT included for SS400 3.0mm*1,250mm*C imported from China, the same as the previous trading day.
According to the source, the price decline in past one month was mainly because of the decreasing purchase costs. He explains that with the depreciation of JPY against dollars, Japanese steel mills cut export quotations by USD20/t, with the quotation for SPHC 2.0mm*1,250mm*C at USD390/t CFR HMC. Meanwhile, with increasing investment from foreign countries, the demand for flat steel is releasing day by day following that for construction steel, and thus the price is unlikely to go down further in the short term. Currently the source holds zero stock in hand and is replenishing the inventory gradually.
Another trader in Phu Tho offers VND1,000,0000/t (USD459.3/t) 10% VAT included for SS400 3.0mm*1,250mm*C imported from China, unchanged over last trading day.
Majoring in importing materials from China and selling in Vietnam, currently the source holds a low stock of 2,000t in hand, against the regular level of 3,000t. He informs that as most of his suppliers in China keep quotations stable, with the price of the above grade at USD370/t CFR Haiphong, he does not plan to decrease his offers again in the near future. Meanwhile, considering the rainy season is coming and the demand is likely to shrink, he deems the price is hard to go up.
