Vietnamese buyers remained in the market for imported hot-rolled coil in the week to Monday September 7 due to a supply shortage, with many sellers hiking or withholding offers on expectations of a continued price uptrend in the near term.
Fastmarkets' weekly price assessment for steel HRC import, cfr Vietnam, which mainly looks at 2-3mm rerolling-grade SAE1006 HRC and equivalent products, was $530-535 per tonne on Monday September 7, up by $13-18 per tonne from $517 per tonne cfr Vietnam a week earlier.A transaction involving at least 20,000 tonnes of HRC to be shipped either in late October or November from a major Indian steelmaker was confirmed at $530 per tonne cfr Vietnam. The cargo was bought by a major reroller that...