The Vietnamese import market for hot rolled coil is weak amid extended movement curbs to counter soaring Covid-19 cases in Ho Chi Minh City and other areas in the southern region. A recent deal earlier this week shows buyers are unwilling to pay up.
A booking for Russian SAE 1006 HRC for October shipment was ordered on 2 August at $908/ton CFR southern Vietnam. The 10,000-20,000-tonne parcel was ordered because it was the lowest-priced in the market, Vietnamese trading sources say. Indian-origin SAE1006 HRC is currently offered at $925-930/t CFR Vietnam. An order for a 30,000tcargo of Indian SAE 1006 HRC previously concluded at $920/t CFR on 26 July.
An Indian mill is currently offering HR in the market at $910/t CFR Vietnam. It sold SS400 grade HRC on 27July at $900/t CFR. There is a minimum order requirement of 20,000t for the Indian HRC, but sellers are unable to combine the order, a Vietnamese trader reported on Wednesday. Buyers were counterbidding the Indian offer at$890/t CFR earlier this week. "Demand is slow; the market is very quiet," he says.
Chinese mills’ export prices for SAE1006 HRC are at a minimum of $1,000/t CFR Vietnam, making Chinese HRC uncompetitive, Chinese traders say.
An offer for Chinese SAE 1006HRC is heard this week at $1,000/t CFR Vietnam, down from above $1,020/previously. While Chinese mills previously wanted importers to bear the burden for a rumored pending export tax on Chinese HRC, this particular Chinese supplier is more flexible. “Customers and sellers will discuss if an export taxi announced,” a Vietnamese trader says of HRC export sales contracts from this particular Chinese mill.
The Chinese offer price at $1,000/tis still too high for the Vietnamese buyer and the export tax is still an issue for buyers, a Chinese trader says. On the other hand, exporting HRC is no longer the core business for Chinese mills, he adds.
Short comments: The downturn in Vietnam market does not affect the increase of steel price, which is still on the rise recently. Interested customers, please confirm with us the price of Drum closure and Metal Cap SEAL as soon as possible.
Causes And Countermeasures Of Concave Deformation Of Steel Drum Body In Production Process-4July 1, 2022Forth, Improve the structure of the steel drum and enhance the strength of the steel drum.In order to enhance the strength of the steel barrel body and reduce the generation of dents, the original str...viewThe Essential Role of Barrel Cap Seals in PackagingFebruary 5, 2024In the competitive world of modern packaging, the significance of airtight seals cannot be overstated. Among various types of seals, barrel cap seals play a crucial role in ensuring the safety, integr...view
Shelf Life Of Steel DrumJuly 1, 2022The storage life of steel drums is largely determined by factors beyond the control of the drum manufacturer. Because after the completion of steel drum manufacturing, packaging steel drum is almost i...view
Shipping Costs Are Soaring! US Port Executives Expect Shipping Congestion To Continue Until 2022June 30, 2022Some U.S. port executives recently predicted that the chaos and congestion of the world's major shipping channels will continue until next year. Due to the shipping fever driven by manufacturers a...view
How Much Do You Know About Industrial Lubricants?July 1, 2022"Industrial lubricants are used in a wide range of base oils, such as pure mineral oils, PAO poly ether synthetic oils, alkylbenzene oils, and biodegradable lipid oils.When they become industrial...viewSouth Korea Issues Draft Of Standards And Specifications For Food Utensils, Containers And PackagingJuly 1, 2022Purpose of revisionThe purpose of this revision is to meet the needs of efficient and reasonable safety management of food utensils, containers and packaging and the development of related industries....view
EN
ko 
fr 
de 
es 
it 
ru 
pt 
ar 
vi 
th 
