Vietnamese buyers of HRC booked at least two cargoes of imports over the past week while waiting for a major mill in the Southeast Asian country to issue its offers for materials shipped and delivered in June.
Market sources widely expect Formosa Ha Tinh Steel Corp to raise its offers due to recent price increases for iron ore.Of the two transactions, one consisted of a 10,000-20,000-tonne cargo from India's Tata Steel that was traded at $543 per tonne cfr southern Vietnam, while the other comprised pipemaking-grade HRC from Russia's Magnitogorsk Iron & Steel Works...