ASIA HRC: Prices break above $500/t on stable demand

Hot-rolled coil prices in Asia have continued upward this past week to surpass $500 per tonne cfr Vietnam amid stable demand and increases in offers from sellers.

Fastmarkets’ 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 $500-505 per tonne cfr for the week ending Monday December 30, up by $15 per tonne from a week earlier.
There was market chatter that transactions were concluded in the past week at $505 per tonne cfr Vietnam for position cargoes.

Traders were offering Indian HRC at $500 per tonne cfr Vietnam, about $10 per tonne below back-to-back offers of $510-515 per...

Published

Paul Lim

December 30, 2019

09:42 GMT

Singapore