Vietnamese HRC importers keep buying from India amid fresh discounts

Wednesday, 02 October 2019 17:01:08 (GMT+3)   |   Istanbul

Import hot rolled coil (HRC) prices have moved down further in Vietnam over the past week with Indian and Russian offers still among the most competitive.

The latest deals for Indian SAE 1006 HRC have been concluded in the range of $440-445/mt CFR Vietnam, while offers from mills were $10/mt higher a week ago. Most market sources said that there have been no big lots sold, with deals being for 10,000-20,000 mt, SteelOrbis has been informed.

Moreover, offers for Russian HRC have been at $435/mt CFR for big coils, which is also $10/mt below the indicative level heard last week.

Overall trading activity has not been active in Vietnam as buyers are cautious about booking large volumes, foreseeing a further price decrease.

Moreover, Chinese exporters have not been not offering HRC starting from Monday this week due to the long holiday in China.

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