ASIA HRC: Prices jump amid strong demand, higher offers

Import prices for steel hot-rolled coil in the key Vietnamese market increased greatly in the week to Friday April 23 amid strong demand from buyers and continual rises in offers from Indian steel mills, market participants have told Fastmarkets.

Indian steel mills raised their offers at least once during the week, to $960-980 per tonne cfr Vietnam from an initial $950-955 per tonne cfr Vietnam. This was equivalent to $915 per tonne fob India, sources said.
There were transactions heard concluded at $950-955 per tonne cfr Vietnam for at least two HRC cargoes from major Indian steel mills.
Bids were heard at $945-946 per tonne cfr Vietnam.

“It’s really crazy how prices are moving. Vietnamese buyers...

Published

Paul Lim

April 23, 2021

12:15 GMT

Singapore