Hot rolled coil (HRC) prices in Vietnam increased slightly last week, though demand remained weak. Domestic and export demand for coated steel continues to be slow, with a marginal improvement in the domestic market. Formosa Ha Tinh Steel (FHS), gathering orders for domestic HRC sales, has had to offer discounts to secure deals with buyers.
On 11 March, FHS raised domestic HRC prices for April/May shipments by approximately $30/tonne, with prices for large bookings set at $524/tonne and smaller bookings at $533/tonne. Meanwhile, imported HRC offers were limited, with Indonesian Dexin Steel raising its price to $520/tonne fob, equivalent to $540/tonne cfr Vietnam. Despite rising offer prices, bids for imported HRC remained at $500-505/tonne cfr.
Kallanish assessed SAE grade 2-2.7mm thickness HRC prices at $505-510/tonne cfr Vietnam, reflecting a $5 increase over the week. For China-origin SS400/Q195 HRC, transactions rose from $465/tonne to nearly $470/tonne cfr Vietnam.
