The Vietnamese HRC market continued to rise last week, Kallanish notes. Suppliers continued to hike offers while buyers are accepting modest price increases.

A leading reroller in Vietnam ordered 10,000 tonnes of Taiwanese-origin 2mm and up thickness rerolling SAE 1006 HRC at $546/tonne cfr. Market sources deemed the price as low. The Taiwanese mill offered this attractive price only to “... special customers,” a Vietnamese trader says. “They could have achieved more than $550/t cfr,” an Indian trader says. But a buyer says that domestic mill, Formosa Ha Tinh announced its domestic HRC sales price for SAE 1006 HRC lower at $535/t cfr Vietnam the week before.

Another deal heard concluded on Thursday was for 6,000t of 2.3mm and up thickness pipemaking HRC from China at $545/t cfr.

Offers for SAE 1006 HRC have edged upwards. A Tier 1 Chinese mill’s SAE 1006 HRC is currently offered at $560/t cfr. The week before, SAE HRC from a leading Chinese mill transacted at $545/t cfr but trading sources say that there did not hear of any offers from the same mill during the week.

Indian HRC is offered at $550/t cfr, against bids of $545/t cfr. A regional trader says that demand is improving in most markets, so there are supply shortages for HRC. Prices for Indian HRC could reach $560/t cfr in two weeks’ time, he added. However, a Vietnamese buyer tells Kallanish that the market could stabilise soon.

Kallanish assessed SAE 1006 grade 2-2.7mm thick HRC  into Vietnam on Friday at $545/-550t cfr, up $5 on-week.