Vietnam's CSVC lowers CRC ex-works prices for September
2015-09-10 09:03:07 [Print]
BEIJING (Asian Metal) 10 Sep 15 - Being located in Ba Ria-Vung Tau Province, China Steel Sumikin Vietnam JSC (CSVC) is one of CRC producers in Vietnam. With an annual production of 400,000 tons, CSVC announced to lower ex-works price of CRC by USD70/t for the September delivery.
A source from CSVC reveals that the ex-works price of CRC SPCC 1.0mm*1,219mm*C is USD370/t VAT exclude for September delivery, down by USD70/t compared with that in August. In addition, the ex-works price of ASCR is USD330/t VAT excluded this month.
The source complains that prices of imported HRC continued to come down in past two months, so that the production cost for CRC decreased accordingly. “Prices of imported HRC from China went down by USD40-50/t in past two months,” he says, adding that CRC buyers refused to place orders in the past week, forcing the mill to lower prices. In addition, the price of imported CRC from China is as low as USD355/t CNF Ho Chi Minh City at the moment. As a consequence, the mill has to cut prices to compete with imported low-cost materials.
According to the source, Malaysia is one of target export markets for Vietnamese CRC. However, Malaysia has lodged anti-dumping probes against CRC imported from Vietnam since August 27. He thinks that local sales will share more pressure if Malaysia begins to collect the anti-dumping tax in the future. The source shows little optimism for the outlook of CRC market in Q4 of this year.
A source from CSVC reveals that the ex-works price of CRC SPCC 1.0mm*1,219mm*C is USD370/t VAT exclude for September delivery, down by USD70/t compared with that in August. In addition, the ex-works price of ASCR is USD330/t VAT excluded this month.
The source complains that prices of imported HRC continued to come down in past two months, so that the production cost for CRC decreased accordingly. “Prices of imported HRC from China went down by USD40-50/t in past two months,” he says, adding that CRC buyers refused to place orders in the past week, forcing the mill to lower prices. In addition, the price of imported CRC from China is as low as USD355/t CNF Ho Chi Minh City at the moment. As a consequence, the mill has to cut prices to compete with imported low-cost materials.
According to the source, Malaysia is one of target export markets for Vietnamese CRC. However, Malaysia has lodged anti-dumping probes against CRC imported from Vietnam since August 27. He thinks that local sales will share more pressure if Malaysia begins to collect the anti-dumping tax in the future. The source shows little optimism for the outlook of CRC market in Q4 of this year.
