Vietnam’s Hot Rolled Steel Coil Import Prices Continued To Decline Slightly

Vietnam’s hot rolled steel coil import assessment price on April 7 was 665-675 US dollars / ton (CFR), which showed a slight downward trend from 665-680 US dollars / ton (CFR) US dollars / ton in the previous week (mainly refer to 2-3mm SAE1006 rerolled grade hot rolled steel coil and similar products).

According to Vietnamese market news, the actual transaction of Vietnam’s imported hot rolled steel coil market last week was not much, and the overall trend continued to be light, and the current market bearish sentiment is heavier, and buyers are mostly in a wait-and-see state. Last week, some overseas suppliers to Vietnam SAE1006 hot rolled steel coil export quotation 665 US dollars / ton (CFR), Q195 hot coil quotation 610 US dollars / ton (CFR). Last week, Vietnam’s mainstream steel mill Hefa Group introduced its latest price policy for domestic hot rolled steel coil in May-June, of which the quotation of non-descaled SAE1006 and SS400 hot rolled steel coil to northern and central Vietnam was 16,000 VND/kg (681.72 USD/ton), and the quotation to southern Vietnam was 16,030 VND/kg (683 USD/ton), both excluding VAT; Vietnamese buyers are also waiting for the latest hot rolled steel coil price policy from Ha Tinh Steel, another mainstream steel mill in Vietnam, which is expected to be released this week. According to a Vietnamese trader, due to the current sluggish demand in Vietnam’s hot rolled steel coil market, Vietnamese steel mills are also actively exploring overseas markets, and the recent export order of Vietnamese hot rolled steel coil to the European market traded at 715-730 US dollars / ton (FOB).

On April 7, Vietnam’s hot rolled steel coil import assessment price from Japan, South Korea and Taiwan was 700-710 US dollars / ton (CFR), unchanged week-on-week. Last week, there were few new export offers from Japan, South Korea and Taiwan to Vietnam. Last week, a long-process mainstream steel mill in Japan to Malaysia sold for hot rolled steel coil at $720-730/mt (CFR).

Note: USD 665-675 = RMB 4509-4577 (RMB to USD exchange rate on April 10)