During Vietnam’s anti-dumping investigation on Chinese hot coils, Chinese sellers’s willingness to quote prices for exports to Vietnam decreases

As far as we know, most of the SG325 steel orders from Chinese steel mills for exporting hot coils to Vietnam have been received until the end of September. The market price for Q195 hot coils is around $475/ton CFR Vietnam; At the same time, it was also learned from local Vietnamese traders that Chinese sellers' quotes for Vietnamese hot coils are gradually decreasing. The main reason is that Vietnam is currently conducting an anti-dumping investigation on Chinese hot rolled products, which has to some extent affected the shipping sentiment of Chinese sellers. But in fact, looking at the overall export volume of Chinese steel to Vietnam, China's export volume to Vietnam in July reached about 620000 tons, a decrease of 27% compared to the previous month. From the trend chart of China's exports to Vietnam over the past 24 years, it can be seen that China's exports to Vietnam have been continuously SG325 steel declining since May.

The decline in export volume is due to the EU's initiation of anti-dumping investigations against Vietnam. As the main destinations for Vietnamese steel exports are the EU and Southeast Asia, once the EU's anti-dumping measures against Vietnam are implemented, it will have an impact on Vietnam's export volume and reduce overseas demand. So, with little improvement in internal and external demand, the purchasing willingness is relatively low, especially last week when Chinese steel prices fluctuated widely, mainly relying on cautious observation; Secondly, due to the recent strict inspection of Chinese steel exports by Chinese customs, there have been delays in the delivery of steel to ASEAN, resulting in increased arrival times. Overall, both Vietnam and China have certain barriers SG325 steel.