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03 Feb

Chinese futures softening dampens Vietnamese HRC ascent

Vietnam’s hot rolled coil market rose last week. However, a weaker Chinese steel futures market has weighed on sentiment in Vietnam, Kallanish notes. A Vietnamese stockist is heard to have ordered 2mm up thickness Chinese SAE 1006 HRC at $660/tonne cfr Ho Chi Minh City (HCMC) last week. Offers are currently prevailing at $670/t cfr. Trading sources had anticipated that offers would hit $680-690/t cfr Vietnam when the market reopened after…
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