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.
Where Can Find IBC's Tare Weight?July 24, 2023Intermediate Bulk Containers (IBCs) are commonly used in industries such as food processing, chemical manufacturing, and pharmaceuticals. They are designed to hold large quantities of liquid or solid ...view
Advantages of Plastic BarrelsApril 18, 2023Plastic drums, also known as polyethylene drums, are ideal containers for storing chemicals, foods, medicines and other items. Before using them, you need to know some important things to ensure that ...view
Prolonging the Lifespan of Tab Seals for DrumsJanuary 18, 2024Tab Seal for Drums are essential components that contribute to the longevity and durability of drums. As a drummer, you know the importance of maintaining these seals to ensure optimal performance. In...view
Performance and Function of Sealing Materials for Steel Drum Cap SealsMarch 13, 2023With the development of the country's export-oriented economy, the volume of commodity exports is constantly increasing, and various steel drum cap seal manufacturers attach great importance to im...view
Shandong Iron And Steel Co., Ltd. Strives To Seek Market Breakthroughs In The Steel Barrel IndustryJuly 1, 2022Shandong Iron and Steel Group Rizhao Co., Ltd. (hereinafter referred to as "Shandong Rizhao Company") was formed by the reorganization of several steel mills such as Jigang and Laiwu Steel u...view55 Gallon Drum: The Ideal Choice for a Multi-Purpose ContainerJune 5, 202355-gallon drum, also known as a steel drum, is a versatile container that is widely used in different fields. It is made of high-quality plastic or metal, and has the characteristics of durability, re...view
EN
ko 
fr 
de 
es 
it 
ru 
pt 
ar 
vi 
th 
