ASIA HRC: Prices continue trending higher; India looks to increase offers

Import prices for hot-rolled coil into Vietnam have continued on an upward trend, with Indian steelmakers looking to hike offers in the near term, key market participants said.

There was a transaction heard concluded at $805 per tonne cfr Vietnam for an Indian HRC cargo, although this could not be confirmed directly with the seller. Market sources said this was a fair value for trading, given that spot demand was strong and prices were continually increasing.
Fastmarkets’ weekly price assessment for steel HRC, import, cfr Vietnam, which mainly looks at 2-3mm rerolling-grade SAE1006 HRC and equivalent products, was $805 per tonne on Friday March 26, up by $20-30 per tonne from $775-785 per tonne on March 19. The price is up 9.15% from $735-740 per tonne at the beginning of March.
"Spot prices are changing every day, there's no one day when prices are stable," a seller source in India told Fastmarkets on Friday.

Offers...

Published

Paul Lim

March 29, 2021

10:00 GMT

Singapore