ASIA HRC: Prices slide further on ample supplies from Russia, India

HRC import prices in Asia continued to feel downward pressure over the past week, with supplies from Russia and India weighing on the spot market.

Fastmarkets' weekly steel HRC import, cfr Vietnam price assessment, which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam, was $410-420 per tonne cfr in the week to Monday October 21, down by $10-15 per tonne from a week earlier.
Indian HRC was on offer at $420 per tonne cfr Vietnam on a back-to-back basis, while traders were short-selling similar material at $415-418 per tonne cfr Vietnam.

A transaction was concluded at $415 per tonne cfr Vietnam for an Indian HRC...


Paul Lim

October 21, 2019

11:21 GMT