Vietnamese HRC traders watching the market
2016-02-24 09:06:57 [Print]
BEIJING (Asian Metal) 24 Feb 16 - Currently most HRC traders in Vietnam have no intention to adjust prices, with wait-and-see attitudes towards the market outlook. The mainstream price of SS400 3.0mm imported from China is around VND7,700,000/t (USD343/t), equaling to last week. Insiders foresee a stable price next week.
A trader in Phu Tho quoted VND7,700,000/t (USD343/t) for SS400 3.0mm imported from China, unchanged over last week.
According to the source, most Chinese mills stopped giving export offers this week due to price soar in domestic market, and the offer he received for the above grade was USD285/t CFR Haiphong last week, which is likely to rise to USD300/t in coming one or two weeks. With no deal concluded these two days, the source stated that the demand from Vietnamese downstream industries remains weak, and thus it is hard for the price to rise in the near future. He sold 13,000t of HRC in January, while the projected sales volume is 16,000t per month. Holding a regular stock of 16,000t in hand, he is not inclined to replenish the inventory in the short term in view of rising purchasing cost but low demand, with wait-and-see attitude.
Another trader in Binh Duong revealed his price for SS400 3.0mm imported from China is VND7,700,000/t (USD343/t), equaling to last week.
Holding a low stock of 2,000t in hand against 5,000t during the corresponding period of past years, the source keeps a keen eye on the market for the time being and he is not in a hurry to supplement stockpile. Noted by him, most local traders like him do not think the upward price trend of HRC in China can last for more than one week, and they prefer to watch the market cautiously. Besides, with the current sales volume of 100tpd against 300tpd in January, he said that the market performance remains unsatisfactory and prices here are powerless to go up.
A trader in Phu Tho quoted VND7,700,000/t (USD343/t) for SS400 3.0mm imported from China, unchanged over last week.
According to the source, most Chinese mills stopped giving export offers this week due to price soar in domestic market, and the offer he received for the above grade was USD285/t CFR Haiphong last week, which is likely to rise to USD300/t in coming one or two weeks. With no deal concluded these two days, the source stated that the demand from Vietnamese downstream industries remains weak, and thus it is hard for the price to rise in the near future. He sold 13,000t of HRC in January, while the projected sales volume is 16,000t per month. Holding a regular stock of 16,000t in hand, he is not inclined to replenish the inventory in the short term in view of rising purchasing cost but low demand, with wait-and-see attitude.
Another trader in Binh Duong revealed his price for SS400 3.0mm imported from China is VND7,700,000/t (USD343/t), equaling to last week.
Holding a low stock of 2,000t in hand against 5,000t during the corresponding period of past years, the source keeps a keen eye on the market for the time being and he is not in a hurry to supplement stockpile. Noted by him, most local traders like him do not think the upward price trend of HRC in China can last for more than one week, and they prefer to watch the market cautiously. Besides, with the current sales volume of 100tpd against 300tpd in January, he said that the market performance remains unsatisfactory and prices here are powerless to go up.
