Ample Indian HRC dampens Vietnam HRC import prices

Ample supply of India-origin hot-rolled coil on the spot market has weakened market sentiment in Asia, market participants said.

Fastmarkets’ assessment of steel HRC import, cfr Vietnam, which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam, was $460-465 per tonne cfr for the week ending Monday March 9, falling by $5 per tonne from $465-470 per tonne a week earlier.

There was market chatter of up to 20,000 tonnes of Indian HRC transacted at $465 per tonne cfr Vietnam from a major Indian steel mill, although this could not be confirmed by market sources, who said that the transaction was not concluded because of the falling...

Published

Paul Lim

March 16, 2020

10:28 GMT

Singapore