According to sources, the price of imported hot rolled plate in Vietnam fell in the week ending Friday, August 20th. The HRC manufacturer recorded for delivery in October and November at Vietnam 20,800 dong per kilogram ($ 911 per tonne). The price for the SAE1006 HRC was set at 20,700 Vietnamese Dong per kilogram for the SSR-HRC on Tuesday 17 August. These prices do not include VAT. Overall, the East Asian hot and cold sheet market was accompanied by a drop in prices. The market owes this to China’s price control policies. In the following, we will explain this issue. Please be with Artan Press.
*** Monitor hot plate price offers in Asian markets
A steel trader in Vietnam told FastMarket that offers for Hua’s black sheet prices for domestic shipments have fallen to $ 905 per tonne. The Hoa Phat Steel offer came two working days after rival group Formosa Tien listed its October delivery on Friday, August 13th. The company was priced at $ 955 per ton cif for the SAE1006 HRC. The SS400 also recorded a price of $ 970 per tonne FOB. Major buyers are still in talks with the two major steelmakers and are seeking confirmation of quantities and delivery dates before entering the market for imported products. Win in this case is with someone who can provide an earlier delivery date.
*** Load hot plate below normal price
In maritime markets, traders were heard to be loading Magnitogorsk Iron & Steel (MMK) HRC sheets below $ 900 per tonne Vietnam cfr. It can be heard that the price has changed a lot in recent days. This rate appears to be below the defined level for this week. The final trend of transactions can not be confirmed at this time. Although some quantities were sold by Friday. Offers of $ 870-880 per tonne cfr Vietnam were available for these products. But it did not reach the transaction stage. It seems that in addition to China’s reduction policies, some market traders intend to keep prices in this sector as low as possible.
*** Sheet prices are as competitive as possible
“Due to the highly competitive offers of Hoa Phat Steel, buyers are still choosing domestic options instead of importing HRC from Russia. The price of the sheet in domestic markets is slightly more favorable. Due to flexible payment terms,” said a Vietnamese galvanized buyer source “There are attractive conditions for buying domestic shipments,” the source said, adding that sellers offering MMK cargo must pay more than $ 10 per tonne discount on Hoa Phat offers if they wish to secure any purchase.
*** Hot plate price under high supply pressure
“Vendors may be ready to sell $ 880 per tonne cfr Vietnam for hot rolled sheet price after the recent iron ore collapse. HRC India offers bids of $ 910- $ 915 per tonne cfr Vietnam,” a Vietnamese trader told Fast Market. An Indian businessman said: “This is probably related to a shipment of 10,000 tonnes with high sales capacity that has already arrived in Vietnam. Indian steelmakers offered $ 930 per tonne to Vietnam. The same Indian trader said: “Indian steel mills were no longer looking to trade in Asia, as they have recently gained a large market in Taiwan, South Korea, Turkey and the Middle East.
*** Hot plate offers in Indian market
Bids for Indian cream sheets were $ 900 per tonne Vietnam cfr. A major buyer source in Vietnam said: “Vietnamese buyers will only consider buying HRC India at a price of $ 900-910 per tonne Vietnam cfr. HRC looks at 2-3mm products with rotating capability, at $ 900-910 per tonne on Friday, down $ 15-20 per tonne.
*** Ready to export Hua in the coming months
Leading market participants said Hoa Phat Steel is preparing for more export orders in the coming months. “Market valuations may be shipped to Southeast Asia soon, but negotiations are ongoing,” said one Southeast Asian end consumer. Some have also shown great interest in buying seasonal shipments of Hoa Phat steel for export due to lower-than-expected sheet prices. Sources said HRC shipments to Houston in the United States have previously been traded at around $ 1,500 using arbitrage.
*** Production statistics of hot sheet produced by Hua company
Hoa Phat Steel produced 1.5 million tonnes of HRC from January to July 2021, of which 160,000 tonnes were produced in July. A South Korean trader continued to offer export shipments at $ 1,000 per tonne FOB. Key market sources estimate that raw material prices in Japan, Korea, and Taiwan will be $ 920 per tonne for Vietnamese buyers in Vietnam. On Friday, Vietnam’s cfr was $ 920 per tonne, down $ 30 per tonne from the previous week.
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