Vietnam’s hot rolled coil (HRC) import market experienced a price increase recently, following a period of low activity. The market had been quiet on Friday, attributed to Chinese suppliers being on holiday. However, last Wednesday, offers for 3-12mm thickness Q235B HRC for May and early June shipments from China were around $515 per tonne, while offers for 3mm base thickness Q195 HRC were at $508 per tonne.
Despite previous low-priced deals in late March, which saw Q195 and Q235 HRC priced at $500 and $510-512 per tonne respectively, recent offers have risen by $10 per tonne for some products. Local producer Hoa Phat Group has sold out its domestic allocations of HRC, setting its price for non-skin passed SAE1006 or SS400 grade HRC for June delivery at approximately $550 per tonne, excluding VAT. This price point has been deemed attractive by local buyers, who are looking to fulfill export orders for coated steel to the US and EU.
