HRC importers in Vietnam watching the market
2016-07-27 08:53:04 [Print]
BEIJING (Asian Metal) 27 Jul 16 - Vietnamese HRC importers reported stable prices from their Chinese suppliers, but they are not eager to purchase, for fear of a price decline seeing frequent prices fluctuations in Chinese domestic market. Mainstream import prices for SS400 2.0mm*1,250mm*C and SS400 4.0-12.0mm*1,250mm*C from mills in China are USD365/t and USD380/t CFR Vietnam, similar to last Friday. Insiders do not think the price will change much in the near future.
An importer in Ho Chi Minh claimed the price for SS400 2.0mm*1,250mm*C from Chinese Benxi Steel is USD380/t CFR HCM this week, equivalent to last Friday.
Holding a regular stock of 10,000t at hand, the source mainly imports materials from mills in China and sells them to end users and traders in Vietnam, with the projected monthly trading volume of 20,000t. Noted by him, though the HRC market in Vietnam was getting better these two weeks due to the flat price trend, he does not plan to supplement the inventory in view of frequent prices fluctuations in Chinese domestic market, waiting for a decline of the purchasing cost. Besides, he claimed that as the government of Vietnam started safeguard investigations on steel imports in succession recently, local importers prefer to keep keen eyes on the market for the clear import policy rather than supplement inventories rashly right now. With the sales volume of 200t on Tuesday, he sold 5,000t in June.
Another importer in Binh Duong told Asian Metal that the price for SS400 4.0mm*1,250mm*C from Chinese Baotou Steel is USD365/t CFR Haiphong this week, flat over last Friday.
The source is also cautious about importing now, with a stock of only 13,000t at hand, against 18,000-20,000t at the beginning of the year. Noted by him, though the market performance showed signs of recovering these two weeks, it was far from satisfactory in the rainy season. With the sales volume of 4,500t in recent one week, he sold 10,000t totally last month. According to him, the progress of construction projects remains slow influenced by the continuous rains, and considering the rainy season will not come to an end until September, he thinks it is risky to build a large inventory under the inactive market.
An importer in Ho Chi Minh claimed the price for SS400 2.0mm*1,250mm*C from Chinese Benxi Steel is USD380/t CFR HCM this week, equivalent to last Friday.
Holding a regular stock of 10,000t at hand, the source mainly imports materials from mills in China and sells them to end users and traders in Vietnam, with the projected monthly trading volume of 20,000t. Noted by him, though the HRC market in Vietnam was getting better these two weeks due to the flat price trend, he does not plan to supplement the inventory in view of frequent prices fluctuations in Chinese domestic market, waiting for a decline of the purchasing cost. Besides, he claimed that as the government of Vietnam started safeguard investigations on steel imports in succession recently, local importers prefer to keep keen eyes on the market for the clear import policy rather than supplement inventories rashly right now. With the sales volume of 200t on Tuesday, he sold 5,000t in June.
Another importer in Binh Duong told Asian Metal that the price for SS400 4.0mm*1,250mm*C from Chinese Baotou Steel is USD365/t CFR Haiphong this week, flat over last Friday.
The source is also cautious about importing now, with a stock of only 13,000t at hand, against 18,000-20,000t at the beginning of the year. Noted by him, though the market performance showed signs of recovering these two weeks, it was far from satisfactory in the rainy season. With the sales volume of 4,500t in recent one week, he sold 10,000t totally last month. According to him, the progress of construction projects remains slow influenced by the continuous rains, and considering the rainy season will not come to an end until September, he thinks it is risky to build a large inventory under the inactive market.
