Prices for hot-rolled coil imports into major import market Vietnam have surged on the back of limited spot supply, sources told Fastmarkets.
Buyers were bidding up to $545 per tonne cfr Vietnam for re-rolling grade SAE1006 HRC in an attempt to shore up inventory levels in the face of limited supply from major domestic producer Formosa Ha Tinh Steel Corp and regional sellers."Buyers will only likely be able to get material at $550 per tonne cfr Vietnam. They won't be able to get anything for less than that," a buyer source in Vietnam told Fastmarkets...