ASIA HRC: FHS reduces offer, MMK maintains low offer

Spot prices for imported hot-rolled coil in Vietnam were stable in the week to Friday August 13 amid poor spot liquidity while major Vietnamese domestic producer Formosa Ha Tinh Steel Corporation (FHS) reduced its prices, sources said.

South Korean traders continued to offer low prices for Russian HRC from Magnitogorsk Iron and Steel Works (MMK), including the remaining quantities of 15,000-20,000 tonnes of October-shipment position cargoes, at $900-905 per tonne cfr Vietnam.
Buyers' interest for the material was limited due to weak downstream markets and a mismatch of specifications between buyers' needs and quantities offered, which included 1,219 mm-width HRC, sources said.
"Some of these materials can only be used for the domestic markets and can't be used to produce galvanized coil for exports, so some end users are not willing to purchase them," a major stockist in Vietnam said.

There had previously been bids for...

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