Vietnamese CRC market slow
2015-08-26 09:01:01 [Print]
BEIJING (Asian Metal) 26 Aug 15 - The price of CRC in Vietnam stops falling at the moment, even though the demand from downstream consumers remains stagnant in the rainy season. Manufacturers and traders refuse to cut prices influenced by the higher cost on the depreciation of VND. The price of CRC SPCC 1.0mm*1,219mm*C is stable at VND10,350,000-10,400,000/t (USD460-462/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 (USD460/t) VAT included, the same as that of last week. His production capacity for CRC is around 500,000 tons per year. However, the output has been cut by 60% since the end of last year.
Noted by the source, the price of CRC imported from China is around USD370/t CFR Ho Chi Minh City for the time being, down by USD20/t compared with that of two weeks ago. The source reveals that most downstream consumers prefer to buy imported materials with low cost. However, traders are bearing losses as prices of imported materials dropped sharply in the past month. The source states that he can offer a discount of around USD5/t to customers who place orders with him.
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 (USD462/t) VAT included, the same as that of last week.
“China offers USD309/t CFR Ho Chi Minh City for HRC SAE1006 2.0mm this week, down by USD8-10/t compared with that of last week,” he says, adding that the price is around USD15/t lower than that of a month ago. The source explains that VND devalued by 3% last week, causing higher production cost. As a consequence, the price of CRC stays firm at the moment. However, the source reveals that the mill plans to lower CRC prices by USD15/t for September delivery in coming days to attract orders as there was little activity in the market in past two months. His monthly sales volume has been around 8,000 tons in recent two months, while it was about 10,000 tons before the rainy season.
A CRC producer in Ho Chi Minh City reports that the price of SPCC 1.0mm*1,219mm*C is VND10,350,000/t (USD460/t) VAT included, the same as that of last week. His production capacity for CRC is around 500,000 tons per year. However, the output has been cut by 60% since the end of last year.
Noted by the source, the price of CRC imported from China is around USD370/t CFR Ho Chi Minh City for the time being, down by USD20/t compared with that of two weeks ago. The source reveals that most downstream consumers prefer to buy imported materials with low cost. However, traders are bearing losses as prices of imported materials dropped sharply in the past month. The source states that he can offer a discount of around USD5/t to customers who place orders with him.
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 (USD462/t) VAT included, the same as that of last week.
“China offers USD309/t CFR Ho Chi Minh City for HRC SAE1006 2.0mm this week, down by USD8-10/t compared with that of last week,” he says, adding that the price is around USD15/t lower than that of a month ago. The source explains that VND devalued by 3% last week, causing higher production cost. As a consequence, the price of CRC stays firm at the moment. However, the source reveals that the mill plans to lower CRC prices by USD15/t for September delivery in coming days to attract orders as there was little activity in the market in past two months. His monthly sales volume has been around 8,000 tons in recent two months, while it was about 10,000 tons before the rainy season.
