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02 Jun

Strong Chinese futures prop up Vietnamese HRC market

The Vietnamese hot rolled coil market paused on Friday as it watched the surge in Chinese steel futures, Kallanish notes. Offers were noticeably reduced and suppliers are waiting for stability before returning with expected higher quotes. “Chinese futures prices are going up sharply; many traders have stopped offering,” a southern Vietnamese trader says. He last saw offers for Q236 HRC at around $530/tonne cfr on Thursday. Some deals for Q235/SS400/Q19…
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Anna Low  |  Singapore
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