Import prices for hot-rolled coil in Vietnam softened over the past week amid pervasive bearishness, which left industry sources with expectations of further price drops.
This is mostly due to the ongoing trade war between the United States and China, as well as rampant short-selling by traders, in addition to an ample availability of domestic supply.The weekly Fastmarkets MB import price assessment for HRC in Southeast Asia - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $510-520 per tonne cfr for the week ending Monday...