Vietnamese HRC market quiet
2016-01-15 08:49:55 [Print]
BEIJING (Asian Metal) 15 Jan 16 - Though some HRC traders in Vietnam lifted quotations as their Chinese suppliers did this week, the mainstream price keeps stable for the moment. The prevailing price of SS400 3.0mm imported from China is VND7,600,000-7,800,000/t (USD346-350/t). Insiders foresee a firm price next week.
A trader in Binh Duong offers VND7,700,000/t (USD350/t) for SS400 3.0mm imported from China, rising by VND100,000/t (USD4.6/t) over last week.
Attributing the price increase to the rising purchasing cost, the source reveals that the offer he received from Chinese suppliers for the above grade is USD280/t CFR Haiphong, up by USD5-10/t over that of two weeks ago. Nevertheless, he points out that the market remains tranquil after the price rise with the approach of the Lunar New Year (February 8), and thus he does not think the price in Vietnam can go up. He sold 13,000t totally last December, and he deems the sales volume in January will be no more than this level, while the projected monthly sales volume is 16,000t. Currently he holds a regular stock of 10,000t in hand and does not plan to replenish the inventory in following two weeks.
Another trader in Ho Chi Minh quotes VND7,600,000/t (USD346/t) for SS400 3.0mm imported from China, the same as last week.
The source does not think the price in Vietnam can go up in the near future seeing the insufficient demand, though purchase cost increases. “Currently most traders here prefer to watch the market cautiously rather than import materials rashly, believing Chinese export price will fall back after the Lunar New Year,” he explains. To avoid potential risks, he has sold out materials in recent two weeks and will purchase from other large traders directly if customers place orders with him, while he usually holds a stock of 500t in hand.
A trader in Binh Duong offers VND7,700,000/t (USD350/t) for SS400 3.0mm imported from China, rising by VND100,000/t (USD4.6/t) over last week.
Attributing the price increase to the rising purchasing cost, the source reveals that the offer he received from Chinese suppliers for the above grade is USD280/t CFR Haiphong, up by USD5-10/t over that of two weeks ago. Nevertheless, he points out that the market remains tranquil after the price rise with the approach of the Lunar New Year (February 8), and thus he does not think the price in Vietnam can go up. He sold 13,000t totally last December, and he deems the sales volume in January will be no more than this level, while the projected monthly sales volume is 16,000t. Currently he holds a regular stock of 10,000t in hand and does not plan to replenish the inventory in following two weeks.
Another trader in Ho Chi Minh quotes VND7,600,000/t (USD346/t) for SS400 3.0mm imported from China, the same as last week.
The source does not think the price in Vietnam can go up in the near future seeing the insufficient demand, though purchase cost increases. “Currently most traders here prefer to watch the market cautiously rather than import materials rashly, believing Chinese export price will fall back after the Lunar New Year,” he explains. To avoid potential risks, he has sold out materials in recent two weeks and will purchase from other large traders directly if customers place orders with him, while he usually holds a stock of 500t in hand.
