Import prices for re-rolling-grade hot-rolled coil sold into Vietnam continued to trend downward on lower demand caused by fears over a looming trade war between China and United States.
Metal Bulletin's assessment of HRC import prices in Southeast Asia - which mainly looks at Chinese 2-3mm SAE1006 HRC and equivalent grades sold into Vietnam - was $600-620 per tonne for the week ended Monday March 26, down $15 per tonne from a week earlier.Demand was described as weaker by sellers who said re-rollers were holding out for further price drops before entering into buying positions again.Negotiations centered around $610-615 per tonne cfr Vietnam with buyers showing no interest for...