ASIA HRC: Prices continue dive toward $400 per tonne cfr

Hot-rolled coil prices in Asia are sliding closer toward $400 per tonne cfr amid weak demand and excess supply.

Fastmarkets’ weekly price assessment for steel HRC import, cfr Vietnam, which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam, was $408-410 per tonne cfr for the week ended Monday October 28, down $2-10 per tonne from a week earlier. Indian HRC was offered at $415 per tonne cfr Vietnam during the week, with transactions being concluded at $408-410 per tonne cfr involving buyers in both southern and northern Vietnam. End users were bidding at $390-395 per tonne cfr Vietnam. “The falling prices are largely due...

Published

Paul Lim

October 29, 2019

06:18 GMT

Singapore