ASIA HRC: Vietnamese buyers book large quantities of Russian HRC on return to seaborne market

Demand for imported hot-rolled coil picked up in Vietnam this week after buyers concluded most of their negotiations with domestic producers.

A major Vietnamese buyer booked substantial quantities of December-shipment HRC from Russia's Magnitogorsk Iron & Steel (MMK) at $850 per tonne cfr southern Vietnam this week, via a Chinese trader.
Market sources said it was for about 100,000 tonnes, on two or three ships.
Buyers had been bidding at $840 per tonne cfr Vietnam for Russian HRC in the week to Friday.

Immediately after news of the transaction, offers for Indian HRC fell, with one major steel mill in India...

Published

Paul Lim

September 24, 2021

10:00 GMT

Singapore