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HR Coil Prices for Vietnam Show Sign of Slight Rise
According to information obtained by a source, there is a sign for prices of hot-rolled (HR) steel coils for Vietnam to rise even slightly. Current negotiations seem to be for February shipment, and an increase in prices by $5-10 from current prices is expected.

As cheap offer prices of Russian HR coils are heard in various Asian areas, customers are keeping a wait-and-see stance. Besides Russian cheap products, such rumor is spreading that the Chinese Government will abolish the system to return a value-added tax when exported from January 1, which also seems to cause a wait-and-see attitude of customers.

As there is a Chinese New Year Holiday (18th-24th) in February, negotiations for shipment of that month are quiet, which seems to be shifted actually to March shipment entering the demand season if as usual. For this reason, there is a possibility that such negotiations begin to upsurge slightly.

There is no information reported yet that contracts of Russian HR coils have been concluded in Asia. Russia's export of HR coils had been suspended so long for Asia while it is reported that customers presume quality of Russian HR coils to be the 2nd class. And, there is no information for Russian HR coils prices to be lowered further. Accordingly, such concerns are decreasing that Russian HR coils might collapse the Asian market prices.

HR coil prices for Vietnam had been said to be $480 CFR or so with reference to prices of Russian HR coils. But, there is a possibility that they rise by $5-10 at a time of a contract and come close to $500 CFR.
last modified : Thu 25 Dec, 2014 [15:14]
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