ASIA HRC: Vietnam opts for Indian HRC after surge in Chinese prices

Vietnamese buyers of imported hot-rolled coil have switched their attention to Indian cargoes in response to surging prices in China.

Fastmarkets' weekly price assessment for HRC imported in Southeast Asia - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $510 per tonne cfr in the week ending Monday July 1, up $9-13 per tonne from the previous week. A transaction was concluded at $510 per tonne cfr Vietnam for 40,000 tonnes of HRC from a major Indian steel mill. Indian HRC was being offered at a slight discount to Chinese HRC, with weak demand in the Indian domestic markets still exerting pressure...


Paul Lim

July 01, 2019

10:30 GMT