Vietnam HRC buyers await new domestic offers
The Vietnamese hot rolled coil import market remained quiet last week, Kallanish notes.
Vietnamese users have showed little buying interest for imported HRC as they prefer to wait for domestic producer Hoa Phat Group’s new domestic price offers which are due to be released in early September.
At the same time, there were few suppliers asking for bids. A supplier was seeking bids from buyers at $534/tonne cfr Vietnam for Indonesian-origin 3mm base thickness SAE1006/SS400 HRC for November/December shipment.
This invitation to bid was seen last Wednesday and was still valid Friday, a trader in northern Vietnam said on Friday. But Vietnamese buyers are not responding to this invitation because “almost all customers are waiting for HPG to offer,” he adds.
There are also suppliers seeking bids for Indonesian 3mm HRC at $528/t cfr Vietnam. A trader says that he only received a bid at up to $525/t cfr last Wednesday. Offers for Indian HRC material were not heard last week.
Kallanish assesses SAE grade 2-2.7mm thickness HRC at $515-525/t cfr Vietnam, up by $11/t on-week.
Meanwhile, certain market sources expect HPG will be aiming for a minimum $10/t price increase in its new October-shipment allocations in line with the recent rise in Chinese steel prices triggered by higher raw material costs.
However, demand for HRC remains weak in Vietnam and rerollers are slow to re-stock in large volumes and are only buying enough to fulfil existing orders. “HRC mills are trying to raise prices, but coated steel prices are falling,” a reroller in southern Vietnam says.
Earlier this month, HPG's domestic HRC price for September shipments for minimum 20,000-tonne orders were set at around $519/t cfr Ho Chi Minh City.
From: Anna Low, Kallanish, 28 AUG 2026, https://www.kallanish.com/en/news/steel/market-reports/article-details/vietnam-hrc-users-await-new-domestic-offers-0826/.
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