24
Apr
11:31
Vietnamese HRC market plunges on Chinese short-selling
The Vietnamese hot rolled coil market is feeling the brunt of continued weakness in Chinese steel futures, Kallanish notes. Traders are shorting the market by inviting bids at ever-lower prices. Chinese wire rod prices are also falling.
The price plunge is most felt in the commercial HRC segment, with values gravitating towards the $550/tonne cfr Vietnam mark. Offers for 3mm Q195 and Q235 for end-June/July shipment are at $565/t cfr, and for SS400 grade at $555-56…
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Anonymous
Very good overview of the weekly steel market.
Anonymous