The Vietnamese import market for hot rolled coil (HRC) saw minimal activity last week as buyers prepared for the Lunar New Year holiday, according to Kallanish. Chinese suppliers also withdrew offers for HRC ahead of the holiday, adding to the market's quietness. Uncertainty over a pending anti-dumping case against Chinese HRC continues, causing buyers to be cautious about potential anti-dumping duties after the holiday.
Non-Chinese SAE 1006 HRC suppliers are seizing the opportunity to fill the potential import supply gap. An Indonesian mill's price target for 3-12mm thickness SAE 1006 grade HRC for shipment by the end of March is around $495/t cfr, unchanged from the previous week. Bidders can still negotiate on the price, and some traders are inviting bids for 3-12mm SAE 1006 HRC from the same Indonesian mill at $485-495/t cfr.
South Korean-origin 2mm and up thickness SAE 1006 HRC offers are estimated at around $505-515/t cfr Vietnam, while SAE grade 2-2.7mm thickness HRC was assessed at $490-495/t cfr Vietnam, down $2.5/t week-on-week.
