ASIA HRC: Vietnam buyers purchase fewer domestic cargoes amid poor downstream sales

Spot prices for hot-rolled coil imports into Vietnam remained stable in the week to Friday October 22 after transactions for Indian material were concluded at the same level as the past few weeks.

A 10,000-tonne parcel of Indian HRC was heard sold into Vietnam at $872 per tonne cfr this past week.
A major Europe-based steelmaker was heard offering HRC from Kazakhstan and Brazil at $880 per tonne cfr Vietnam. The steelmaker did not confirm its offers to Fastmarkets when contacted.
"They should be able to accept $870-880 per tonne cfr Vietnam if they want to conclude any transactions," a Vietnamese trader told Fastmarkets on Friday.

Russian HRC from Magnitogorsk Iron & Steel (MMK) was offered at $880 per tonne cfr Vietnam by a South Korean trader. But...


Paul Lim

October 22, 2021

09:37 GMT