Vietnamese HRC market slow
2016-06-15 08:58:41 [Print]
BEIJING (Asian Metal) 15 Jun 16 - HRC prices keep temporarily stable in Vietnam at the moment, coupled with participants’ wait-and-see attitudes. Currently the mainstream price of SS400 4.0-12mm imported from China is VND8,600,000-8,800,000/t (USD391-400/t) VAT included. Insiders foresee a flat price next week.
A trader in Phu Tho reported to Asian Metal that his price for SS400 4.0-12mm imported from China is VND8,800,000/t (USD400/t), equivalent to last Friday.
With no deal concluded these two days against the average daily sales volume of 50t in March-April, the source complained that the market is performing inactively. Noted by him, as few construction projects are being operated influenced by the continuous rain, the rigid demand is absent. In addition, frequent price fluctuation in China, major origin for Vietnamese HRC heightens end users’ cautious attitudes and they are inactive in placing orders. Holding a stock of 2,000t at hand against 3,000t at the beginning of the year, the source does not plan to supplement the inventory in coming two weeks, with wait-and-see attitude. He sold 1,200t totally in May.
Another trader in Bing Duong revealed his price for SS400 4.0-12mm imported from China is VND8,600,000/t (USD391/t), similar to last Friday.
Holding a stock of 13,000t at hand against 16,000t in March-April, the source showed no confidence in the market outlook considering the firm purchasing cost and the stagnant market. With the sales volume of 1,000t in recent one week, one-fourth of that in April, he disclosed that the price for S400 4.0-12mm he received from Chinese Baotou Steel is USD360/t CFR Haiphong this week, unchanged over last week. “It is said that mills in China are to raise HRC export prices in the short term following the domestic price trend, but market in Vietnam is rather quiet in the traditional rainy season,” added the source, with the sales volume of 8,000t in May.
A trader in Phu Tho reported to Asian Metal that his price for SS400 4.0-12mm imported from China is VND8,800,000/t (USD400/t), equivalent to last Friday.
With no deal concluded these two days against the average daily sales volume of 50t in March-April, the source complained that the market is performing inactively. Noted by him, as few construction projects are being operated influenced by the continuous rain, the rigid demand is absent. In addition, frequent price fluctuation in China, major origin for Vietnamese HRC heightens end users’ cautious attitudes and they are inactive in placing orders. Holding a stock of 2,000t at hand against 3,000t at the beginning of the year, the source does not plan to supplement the inventory in coming two weeks, with wait-and-see attitude. He sold 1,200t totally in May.
Another trader in Bing Duong revealed his price for SS400 4.0-12mm imported from China is VND8,600,000/t (USD391/t), similar to last Friday.
Holding a stock of 13,000t at hand against 16,000t in March-April, the source showed no confidence in the market outlook considering the firm purchasing cost and the stagnant market. With the sales volume of 1,000t in recent one week, one-fourth of that in April, he disclosed that the price for S400 4.0-12mm he received from Chinese Baotou Steel is USD360/t CFR Haiphong this week, unchanged over last week. “It is said that mills in China are to raise HRC export prices in the short term following the domestic price trend, but market in Vietnam is rather quiet in the traditional rainy season,” added the source, with the sales volume of 8,000t in May.
