Vietnamese HRC price downward
2015-09-18 09:35:17 [Print]
BEIJING (Asian Metal) 18 Sep 15 - Influenced by the decreasing purchase cost, most HRC traders in Vietnam cut quotations down by VND200,000/t (USD8.9/t) again this week
A trader in Hanoi offers VND8,100,000/t (USD360/t) for HRC SS400 3.0mm imported from China, decreasing by VND200,000/t (USD8.9/t) compared with last week.
Holding a regular stock of 1,000t in hand and it is enough for one month’s consumption, the source does not plan to import from China in following two weeks and he believes the export price from Chinese exporters, his suppliers, will go down again. “Most traders in Vietnam deem the purchase cost from Chinese suppliers will drop to USD250/t CFR HCMC in coming weeks from the current USD290/t,” he adds . Meanwhile, the source discloses that the market runs slowly with decreasing price trend, and most end users hold wait-and-see attitudes instead of placing orders actively.
Another trader in Binh Duong quotes VND8,000,000/t (USD355/t) for HRC SS400 3.0mm imported from China, down by VND200,000/t (USD8.9/t) compared with last week.
According to the source, most local traders are extremely pessimistic about the market outlook in view of the downward price trend from oversea suppliers, and they are eager to sell products to withdraw capitals, leading to an overall price decline. With a projected sales volume of 16,000-18,000t per month, he estimates it will shrink by 30% in September . Besides, he is not active in supplementing inventory and just orders according to grade shortage.
. Currently the mainstream price of SS400 3.0mm imported from China is VND8,000,000-8,100,000/t (USD355-360/t) . Insiders foresee another price decline next week.
A trader in Hanoi offers VND8,100,000/t (USD360/t) for HRC SS400 3.0mm imported from China, decreasing by VND200,000/t (USD8.9/t) compared with last week.
Holding a regular stock of 1,000t in hand and it is enough for one month’s consumption, the source does not plan to import from China in following two weeks and he believes the export price from Chinese exporters, his suppliers, will go down again. “Most traders in Vietnam deem the purchase cost from Chinese suppliers will drop to USD250/t CFR HCMC in coming weeks from the current USD290/t,” he adds . Meanwhile, the source discloses that the market runs slowly with decreasing price trend, and most end users hold wait-and-see attitudes instead of placing orders actively.
Another trader in Binh Duong quotes VND8,000,000/t (USD355/t) for HRC SS400 3.0mm imported from China, down by VND200,000/t (USD8.9/t) compared with last week.
According to the source, most local traders are extremely pessimistic about the market outlook in view of the downward price trend from oversea suppliers, and they are eager to sell products to withdraw capitals, leading to an overall price decline. With a projected sales volume of 16,000-18,000t per month, he estimates it will shrink by 30% in September . Besides, he is not active in supplementing inventory and just orders according to grade shortage.