ASIA HRC: Prices move lower as weak sentiment persists

Weak sentiment persists in the Asia hot-rolled coil markets, with spot price negotiations trending down amid talk of transactions being concluded at lower prices, market participants said.

Fastmarkets' assessment of steel HRC import, cfr Vietnam, which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam, was $465-470 per tonne cfr for the week ending Monday March 9, down from $470-472 per tonne a week earlier.
Spot price negotiations ended the week at $465-470 per tonne cfr Vietnam, according to market sources, with Chinese HRC being offered at $470 per tonne cfr Vietnam towards the end of the week.

Initial offers for both re-rolling and pipe-making grade SAE1006 HRC were at $480 per...

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