Vietnamese CRC prices to rise
2023-03-16 08:27:42 [Print]
BEIJING (Asian Metal) 16 Mar 23 - Supported by rising prices of HRC, Vietnam CRC prices are about to increase in coming days. The mainstream prices of CRC SPCC 1.0mm stood at VND21,000,000-21,200,000/t (USD882-890/t) Inc-VAT on Wednesday, similar to one week ago. As local steel mills would lift CRC prices for April production regardless of limited demand from downstream clients, insiders predict CRC prices in Vietnam would go up slightly in the coming week.
"This week steel mills would increase HRC prices by around VND71,000/t (USD30/t) for April production, so steel mills would lift CRC prices accordingly after one week," reported a trader in North Vietnam, adding that they asked VND21,000,000/t (USD882/t) without concession for CRC SPCC 1.0mm this Wednesday, the same as one week ago. He last sold around 20t of the material at VND21,000,000/t (USD882/t) last Friday. Though he predicts CRC prices would go up, he does not keep cautious in selling as he has no much confidence in coming market during April-May upon limited demand from downstream clients. He deems that CRC prices would edge up by around VND200,000/t (USD8/t) in the coming week.
With a sales volume of about 8,000t in 2022, the company sold around 1,000t of CRC in the first two months of this year. It holds an inventory of nearly 700t at present, down by 100t from one week ago.
A producer in South Vietnam stated that they plan to lift CRC prices by at least VND500,000/t (USD21/t) next week for April production as their raw materials suppliers, HRC producers would increase prices by around VND71,000/t (USD30/t) this week. "I refuse bids lower than VND21,200,000/t (USD890/t) for CRC SPCC 1.0mm at present and last sold around 200t of the material at the same price late last week," he said, adding that most clients remained not active in placing orders before the price increase. However, they faced rising cost and only operated around 40% of the production capacity, down from 50% in February. He deems that CRC prices would climb up in the coming week.
The company, reporting an annual production capacity of 1.2 million tons, produced roughly 800,000t of CRC in 2022. It estimated the output would reach around 40,000t in March, down from 50,000t in February. It does not have stock at present.
"This week steel mills would increase HRC prices by around VND71,000/t (USD30/t) for April production, so steel mills would lift CRC prices accordingly after one week," reported a trader in North Vietnam, adding that they asked VND21,000,000/t (USD882/t) without concession for CRC SPCC 1.0mm this Wednesday, the same as one week ago. He last sold around 20t of the material at VND21,000,000/t (USD882/t) last Friday. Though he predicts CRC prices would go up, he does not keep cautious in selling as he has no much confidence in coming market during April-May upon limited demand from downstream clients. He deems that CRC prices would edge up by around VND200,000/t (USD8/t) in the coming week.
With a sales volume of about 8,000t in 2022, the company sold around 1,000t of CRC in the first two months of this year. It holds an inventory of nearly 700t at present, down by 100t from one week ago.
A producer in South Vietnam stated that they plan to lift CRC prices by at least VND500,000/t (USD21/t) next week for April production as their raw materials suppliers, HRC producers would increase prices by around VND71,000/t (USD30/t) this week. "I refuse bids lower than VND21,200,000/t (USD890/t) for CRC SPCC 1.0mm at present and last sold around 200t of the material at the same price late last week," he said, adding that most clients remained not active in placing orders before the price increase. However, they faced rising cost and only operated around 40% of the production capacity, down from 50% in February. He deems that CRC prices would climb up in the coming week.
The company, reporting an annual production capacity of 1.2 million tons, produced roughly 800,000t of CRC in 2022. It estimated the output would reach around 40,000t in March, down from 50,000t in February. It does not have stock at present.
