ASIA HRC: Aggressive Russian, Indian offers dampen spot prices further

Aggressive offers for Indian and Russian hot-rolled coil over the past week resulted in more prices falls in key import market Vietnam.

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 $390 per tonne cfr for the week ending Monday April 6, down by $15-20 per tonne from $405-410 per tonne a week earlier.

About 10,000-20,000 tonnes of HRC from a major Indian steelmaker was sold at $390 per tonne cfr Vietnam, while Russian HRC weighing up to 14 tonnes per coil was sold at $380 per tonne cfr Vietnam in the past week. This...

Published

Paul Lim

April 06, 2020

10:00 GMT

Singapore