The rate of price decreases in the Vietnamese hot-rolled coil import market eased in the past week after a spurt of short-selling by aggressive traders.
Fastmarkets' steel HRC import, cfr Vietnam assessment - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $470-475 per tonne cfr for the week ending Monday August 26, down $4-5 per tonne from $475-479 per tonne a week earlier.A 25,000-tonne cargo of October-shipment Indian HRC was heard to have been sold to southern Vietnam at $472 per tonne cfr Vietnam.Another transaction involving 20,000 tonnes of November-shipment Russian HRC was heard to have been concluded at $470 per tonne cfr Vietnam. The cargo was sold to northern Vietnam, according to market sources.Indian materials were offered at $480 per tonne cfr Vietnam...