Vietnamese HRC traders watching the market
2015-06-30 08:50:58 [Print]
BEIJING (Asian Metal) 30 Jun 15 - The HRC prices keep temporarily stable in Vietnam at the moment after continuous declines in past four weeks. Meanwhile, most traders take wait-and-see attitudes towards the market outlook. Insiders think the price is likely to go down further in coming several days.
A trader in Ho Chi Minh tells Asian Metal that his quotation for SS400 3.0mm*1,250mm*C imported from China is VND9,200,000/t (USD421/t), the same as last Friday.
According to the source, the price has been decreasing in recent one month and nobody knows whether it will continue the downward trend in the coming July, so most local traders like him prefer to watch the market cautiously. With the sales volume being reduced by around 50%, he points out that the demand from downstream industries remains soft influenced by the rainy season as well as the Ramadan.
Another trader also in Ho Chi Minh quotes VND9,300,000/t (USD426/t) for SS400 3.0mm*1,250mm*C imported from China, unchanged over last Friday.
The source has no intention to adjust his quotations for the moment, with a wait-and-see attitude towards the market prospect. According to him, the price trend in Vietnam mainly depends on that in China, the major material origin of Vietnamese materials. “Currently the export price from Chinese suppliers for the above grade is USD348-353/t CFR HCM and most traders here estimate the price will drop to USD340/t in coming two weeks,” he discloses. With zero stock in hand, the source does not plan to supplement inventories in the short term, for fear of risks.
A trader in Ho Chi Minh tells Asian Metal that his quotation for SS400 3.0mm*1,250mm*C imported from China is VND9,200,000/t (USD421/t), the same as last Friday.
According to the source, the price has been decreasing in recent one month and nobody knows whether it will continue the downward trend in the coming July, so most local traders like him prefer to watch the market cautiously. With the sales volume being reduced by around 50%, he points out that the demand from downstream industries remains soft influenced by the rainy season as well as the Ramadan.
Another trader also in Ho Chi Minh quotes VND9,300,000/t (USD426/t) for SS400 3.0mm*1,250mm*C imported from China, unchanged over last Friday.
The source has no intention to adjust his quotations for the moment, with a wait-and-see attitude towards the market prospect. According to him, the price trend in Vietnam mainly depends on that in China, the major material origin of Vietnamese materials. “Currently the export price from Chinese suppliers for the above grade is USD348-353/t CFR HCM and most traders here estimate the price will drop to USD340/t in coming two weeks,” he discloses. With zero stock in hand, the source does not plan to supplement inventories in the short term, for fear of risks.
