Vietnam’s Hot Rolled Roll Import Prices Continue To Remain Stable

On September 8, Vietnam's hot coil import assessment price was 570-580 US dollars/ton (CFR), which remained unchanged from September 4 (mainly referring to 2-3mm SAE1006 re-rolled hot coil and similar products).

According to Vietnamese market news, at the beginning of last week, the mainstream export quotation of China's SAE1006 hot coil to Vietnam was 575-585 US dollars/ton (CFR), but by the second half of last week, some quotations had been raised to 585-590 US dollars/ton (CFR). In the second half of last week, the mainstream export quotations of China's SS400 hot coil and Q195 hot coil to Vietnam were US$560-580/ton (CFR) and US$540-555/ton (CFR) respectively. A Vietnamese trader said that the actual transactions in Vietnam's imported hot coil market last week were very limited. There were some small batch orders of SS400 hot coils. At present, most Vietnamese buyers are bearish on the market price. Currently, they are mainly waiting and watching, and some buyers have made bids. The price difference between the price quoted by the supplier and the supplier is large, making it difficult to achieve an actual transaction.

Last week, Hoa Phat Group, a mainstream steel mill in Vietnam, lowered its hot coil price for October and November shipments by about US$10/ton. After the price adjustment, its SAE1006/SS400 hot coil was quoted at 14,190 VND/kg in central and southern Vietnam ( 588 US dollars/ton), and the quoted price in northern Vietnam is 14,160 VND/kg (587 US dollars/ton), excluding VAT.

On September 8, Vietnam's imported hot rolled coils from Japan, South Korea and Taiwan were assessed at US$590-600/ton (CFR), which remained unchanged on a week-on-week basis. Last week, a mainstream Japanese steel mill SAE1006 hot coil export quotation to Vietnam was 600-610 US dollars/ton (CFR), but at present, most Vietnamese buyers’ psychological price for Japanese hot coils does not exceed US$580/ton (CFR).

Note: 570-580 US dollars = 4161-4234 yuan (according to the exchange rate of RMB against the US dollar on September 11)