Import prices for re-rolling-grade hot-rolled coil sold into Vietnam tightened downward over the past week with distressed cargoes dampening spot price negotiations and traders becoming more willing to lower their offers.
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 $600-605 per tonne cfr for the week ended Monday May 28, down from $600-625 per tonne a week earlier.Bids for July-shipment materials fell to $590-600 per tonne cfr Southeast Asia, compared with $600 per tonne cfr a week earlier. Market sources...