Possible shutdown of S Korean BFs fails to halt Vietnam's HRC price slide

The possibility of several blast furnaces in South Korea being shut down has failed to keep import prices for re-rolling-grade hot-rolled coil in Vietnam from falling.

The Fastmarkets MB weekly import price assessment for HRC in Southeast Asia - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $500-505 per tonne cfr for the week ending Monday June 10, down $3-5 per tonne from a week earlier. South Korean steel majors Posco and Hyundai Steel have been asked to idle their blast furnaces in Gwangyang and Dangjin provinces for 10-15 days due to pollution. They are presently negotiating with authorities to keep their facilities running. “To stop...

Published

Paul Lim

June 10, 2019

11:00 GMT

Singapore