Import transactions slow, Southeast Asia HRC prices edge down

 On Tuesday, Vietnam's hot-rolled coil prices stabilized and weakened, and import transactions were deserted.

As the yuan weakened further, US dollar quotations for Chinese resources edged lower again, although official quotations from Chinese mills were largely steady this week. The FOB price of large SS400 steel mills is maintained at US$600-605/ton FOB, the feasible range for some large steel mills is US$565-570/ton FOB, and the feasible price for Southeast Asia is US$590-600/ton CFR. In general, compared with local resources, the price advantage of imported resources is not obvious, and local Vietnamese buyers have also purchased local resources. The quotation of FHS SAE1006 hot coil this week is at 610 US dollars / ton CIF Ho Chi Minh, and the price of Hefa is 595-600 US dollars / ton CIF.

This week, India and South Korea's offer to Southeast Asia has decreased, and India's domestic demand has recovered before the festival. The price has been boosted, and exporters have turned to domestic trade. Last week, India's offer to Vietnam was at $620-630/ton CFR . South Korea, on the other hand, mainly offers quotations to the European market.

In addition, Vietnam's local advantageous resources have also been making export quotations recently. This week, the mainstream resource's offer to Malaysia is 635 US dollars / ton CFR.


From:http://boilersteelpipe.com/news/industrynews/import-transactions-slow,-southeast-asia-hrc-prices-edge-down.html

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