Tel :
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Recently, affected by trade policy restrictions, China's hot-rolled coil exports to Vietnam have gradually contracted, while Indonesian resources have successfully filled the supply gap, resulting in active exports to Vietnam. X100Q steel, However, after completing a round of concentrated purchases earlier this month (including strip steel from Indonesia and India), Vietnam's import demand slowed down last week, and market inquiries weakened.
According to local Indonesian traders, two Indonesian steel mills recently traded approximately 250,000 tons of SAE1006/SS400 3mm hot-rolled coil at $503-508/ton (CFR Vietnam), with shipment dates in December/January. However, market analysts point out that few buyers are currently purchasing resources with January shipment dates, speculating that while existing orders are scheduled for January delivery, buyers' actual intention is still to strive for earlier delivery in December.
Market data shows that in mid-September, most orders were traded at $503-505/ton (CFR Vietnam), while by the week ending September 19, prices had risen to $507-508/ton. Currently, Indonesian steel mills have raised their quotes for January shipment hot-rolled coil to $510/ton (CFR Vietnam). X100Q steel, However, a market participant indicated last Friday that due to the continued weakness in Chinese ferrous futures, coupled with weak local demand for hot-rolled coil in Vietnam, sellers might accept a price negotiation range of $508-510/ton (CFR Vietnam) for large orders exceeding 10,000 tons.It is worth noting that a small order of 1,000 tons was sold at $512 per ton (CFR Vietnam) last week, but this price is not representative. For large orders, the actual transaction price is often lower because the buyer has stronger bargaining power.
Indonesian traders pointed out that due to the continued availability of December shipments in the market and the fact that Indonesian steel mills have already opened up January orders, major buyers are not very accepting of the price of $509/ton. X100Q steel, A Vietnamese trader also confirmed last Friday that, faced with an offer of $510/ton, customers' target price was generally only around $500/ton.
It is also understood that a major South Korean steel mill traded 30,000 tons of 2-3mm SAE1006 hot-rolled coils last week at a price of $505-510/ton (CFR Vietnam), of which 2mm resources accounted for about 30%, with shipment in November.
In the spot market, 2-meter wide Q235 3mm hot-rolled coils for shipment before November 15th were traded at $496–497/ton (CFR Vietnam). X100Q steel, Vietnamese traders reported that although current quotes generally remain at $497–499/ton, buyer offers generally dipped to $490–492/ton last Friday.
It is worth noting that with Vietnamese steel mills having submitted trade remedy applications to the relevant authorities, Chinese wide hot-rolled coils may face anti-dumping measures in the future, and market risks are accumulating.
