ASIA HRC: Prices peaking after sudden China iron ore, steel retreat - sources

Hot-rolled coil (HRC) prices in Asia are peaking after iron ore and steel prices in China started retreating last week, industry sources told Fastmarkets in the past week.

Fastmarkets' steel HRC import, cfr Vietnam assessment - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $517-520 per tonne cfr for the week ending Monday July 8, up $7-10 per tonne from $510 per tonne a week earlier. There was a transaction concluded at $517 per tonne cfr Vietnam and market chatter that there was another transaction concluded at $520 per tonne cfr Vietnam. Market sources said both cargoes were from major Indian steel mills. Chinese HRC offers have retreated slightly in the wake of lower domestic prices in China, which started falling together with iron ore prices after news spread...

Published

Paul Lim

July 08, 2019

10:30 GMT

Singapore