ASIA HRC: Vietnam consumers opt for Indian HRC to avoid risk-sharing contracts

Vietnamese buyers of imported hot-rolled coil are choosing to purchase Indian cargoes to avoid risk-sharing clauses written into contracts for Chinese HRC, market sources told Fastmarkets.

Fastmarkets’ weekly price assessment for steel HRC, import, cfr Vietnam, which mainly looks at 2-3mm rerolling-grade SAE1006 HRC and equivalent products, was $735-740 per tonne on Friday March 5, up by $20 per tonne from $715-720 per tonne on February 26.
At least two cargoes of Indian HRC were heard sold to Vietnamese re-rollers, including one cargo at $735 per tonne cfr Vietnam and one cargo at $740 per tonne cfr Vietnam. At least 30,000-40,000 tonnes of materials from two major Indian steelmakers were sold.
Offers were at $750 per tonne cfr Vietnam for Indian HRC.

There were limited offers for Chinese HRC heard,...

Published

Paul Lim

March 08, 2021

09:35 GMT

Singapore