Vietnam: Imported HRC offers rise on supply constraints

Imported HRC offers to Vietnam continues to trade higher on the back of supply constraints and robust demand from coated steel makers. Offers from major exporting countries increased up-to $30/t on the week. HRC offers from Japanese & Korean mills have continued to command a premium over Chinese HRC.

Factors driving imported HRC offers in Vietnam- 1. Global supply constraints-Japanese and South Korean mills have remained less active in the export market on the back of a strong recovery in their domestic demand. For instance, Nippon Steel has decided not to sell any carbon steel flats in the spot