SteelOrbis has learned that ex-China hot rolled coil (HRC) offers to Vietnam have increased by $20/mt as compared to last week, in line with improvements in the Chinese domestic market, to $710-715/mt CFR. However, failing to find acceptance in the Vietnamese market, these offers are expected to see a downward correction to below $700/mt CFR level.
While 2 mm HRC offers given from South Korea to the Vietnamese market for rerolling have decreased by $5/mt as compared to last week to $710/mt CFR, offers for similiar material from Japan are still at $705/mt CFR.