Vietnamese CRC prices come down
2015-08-12 08:57:59 [Print]
BEIJING (Asian Metal) 12 Aug 15 - The price of CRC in Vietnam continues on the downward trend for the time being, influenced by the weak demand from downstream consumers and the decreasing production cost. The current price of CRC SPCC 1.0mm*1,219mm*C is VND10,350,000-10,400,000/t (USD474-477/t) VAT included. Insiders think it is unlikely for the price of CRC to go up in the short term.
A CRC producer in Ho Chi Minh City reports that the price of SPCC 1.0mm*1,219mm*C is VND10,350,000/t (USD474/t) VAT included, VND200,000/t (USD9/t) lower than that of two weeks ago. His production capacity for CRC is around 500,000 tons per year. However, he has cut the output by 60% in the recent year.
Noted by the source, the price of CRC imported from China is around USD390/t CFR Ho Chi Minh City for the time being, so that downstream consumers prefer to buy imported materials with low cost. In order to attract orders, the source reveals that he can offer a discount of VND50,000/t (USD2/t) to customers who have firm orders. The source shows little confidence in the CRC market recovery as the rainy season will continue in coming two months during which time the demand from downstream consumers has no chances to become strong.
Another CRC producer with an annual output of 1.2 million tons in Ho Chi Minh City says the current price of SPCC 1.0mm*1,219mm*C is VND10,400,000/t (USD477/t) VAT included, falling by VND300,000/t (USD14/t) compared with that of two weeks ago.
According to the source, it is rainy season in local market at the moment, so that the market is very quiet. “Chinese Bengang Steel offers USD324/t CFR Ho Chi Minh City for HRC SAE1006 2.0mm this week, down by USD5-6/t compared with that of last week,” he says, adding that the price has decreased by around USD35/t in recent two months. The source reveals that it is hard for the price of CRC to rebound without a firm support from the production cost. His current sales volume is around 8,000 tons per month, lower than that of 10,000 tons in the high season in Q1 of this year.
A CRC producer in Ho Chi Minh City reports that the price of SPCC 1.0mm*1,219mm*C is VND10,350,000/t (USD474/t) VAT included, VND200,000/t (USD9/t) lower than that of two weeks ago. His production capacity for CRC is around 500,000 tons per year. However, he has cut the output by 60% in the recent year.
Noted by the source, the price of CRC imported from China is around USD390/t CFR Ho Chi Minh City for the time being, so that downstream consumers prefer to buy imported materials with low cost. In order to attract orders, the source reveals that he can offer a discount of VND50,000/t (USD2/t) to customers who have firm orders. The source shows little confidence in the CRC market recovery as the rainy season will continue in coming two months during which time the demand from downstream consumers has no chances to become strong.
Another CRC producer with an annual output of 1.2 million tons in Ho Chi Minh City says the current price of SPCC 1.0mm*1,219mm*C is VND10,400,000/t (USD477/t) VAT included, falling by VND300,000/t (USD14/t) compared with that of two weeks ago.
According to the source, it is rainy season in local market at the moment, so that the market is very quiet. “Chinese Bengang Steel offers USD324/t CFR Ho Chi Minh City for HRC SAE1006 2.0mm this week, down by USD5-6/t compared with that of last week,” he says, adding that the price has decreased by around USD35/t in recent two months. The source reveals that it is hard for the price of CRC to rebound without a firm support from the production cost. His current sales volume is around 8,000 tons per month, lower than that of 10,000 tons in the high season in Q1 of this year.
