ASIA HRC: Limited trades while buyers negotiate domestic supply details

There was limited spot demand for imported hot-rolled coil in Vietnam over the past week because buyers were still in the final stages of negotiations with domestic producer Formosa Ha Tinh Steel Corp for domestic supply.

"Most negotiations center on $450 per tonne cif for major domestic buyers, while other buyers will have to pay about $5 per tonne higher," a Vietnamese trader told Fastmarkets on Thursday June 25.
The domestic producer is still offering significant quantities of about 300,000 tonnes to domestic buyers and another 60,000 tonnes for export.
"This is among one of the highest volumes that have been offered," a source close the steel producer said.

Formosa Ha Tinh had raised its prices by $20 per tonne cif...

Published

Paul Lim

June 29, 2020

10:29 GMT

Singapore