On November 1, SteelOrbis reported the downtrend since August of ex-China HRC, as benchmarked by HRC SAE 1006 2-3 mm. The most recent offers were reported at $545-555/mt CFR Vietnam, while FOB prices on the grade were reportedly at $535-545/mt China.
Regional sources inform SteelOrbis that ex-China HRC offers have ticked down yet again on November 12 and are presently reported at $540-545/mt CFR, down $5/mt from the bottom of the previous range and $10/mt from the top of the same range. A source noted the buying market as “tentative,” especially given the recent price downtrend along with “sufficient pipeline supply amounts.”