ASIA HRC: Strong Vietnamese demand causes price surge

Hot-rolled coil prices in Asia have surged on strong demand from Vietnamese mills.

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 $430-440 per tonne cfr for the week ending Monday November 11, up by $10-20 per tonne from a week earlier.
Offers for Indian HRC have increased to $440 per tonne cfr Vietnam, after sellers and mills saw strong demand from Vietnamese buyers. These included re-rollers in southern Vietnam.
Bids have increased to $430 per tonne cfr Vietnam for December and January-shipment materials in the face of restocking demand by end users.

Published

Paul Lim

November 11, 2019

10:20 GMT

Singapore