Vietnamese steel plate prices fall (27/01/2015)

In Vietnam’s major cities, prices for steel plate move down because of the lack of support from purchase cost. As more and more new products from mills in Japan and South Korea are arriving at port, traders offer more discounts to make deals.

         A steel plate trader in Ho Chi Minh reveals to Asian Metal that the current price for steel plate SS400 14-20mm from Japanese steel mills is VND12,000,000/t (USD562/t, VAT included), down by VND500,000/t (USD20/t) over last week.

         Noted by the source, he received no offers from Chinese mills last December when the inquiry was in hands, so they placed orders with Japanese and South Korean steel mills. With the current inventory of 1,000-2,000t for main grades in full range, the source is unwilling to cut offers because of the high purchase cost. “The downstream demand is weak and more new products with lower prices from China are arriving at port,” he says, preferring to watch the market cautiously for now.

      Another steel plate trader in Hanoi informs that the price for above grade from Chinese mills is VND11,700,000/t (USD549/t, VAT included), down by VND300,000/t (USD12/t) over last week.

         According to the source, 60-70% steels consumed in local market are imported from China, Japan, South Korea and Europe. “Because Chinese steel prices fell too much in past month, I put off the purchasing to the end of the month, but now I am considering delaying it again,” he informs, without any idea what the bottom price for steel plate is. About the coming market, he thinks his offer is favorable in local market, so will keep it unchanged in the short run.

Asian Metal

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