The Vietnamese rerolling hot rolled coil (HRC) import market remains stagnant with limited trading activity as demand stays subdued and buyers push for lower prices. Japanese 2mm base thickness SAE 1006 HRC is reportedly offered at $510-512/tonne cfr Vietnam, while deals are expected to close at around $505/tonne. Japanese HRC has appeared in export markets at low prices due to restricted EU market access.
Indonesian 3mm base thickness SAE1006/SS400 grade HRC is officially offered at $498/tonne fob, unchanged from last week, translating to $518/tonne cfr Vietnam. However, Vietnamese buyers are reluctant to purchase as local producers offer comparable prices for 2-3mm HRC.
Kallanish assessed SAE grade 2-2.7mm thickness HRC at $505/tonne cfr Vietnam, a $2.5 on-week drop. ASEAN mills continue to strengthen their presence in EU markets, with Vietnamese and Indonesian mills selling HRC at $598/tonne cfr Europe and $585/tonne cfr Europe, respectively, in the week through 25 April.
