SE Asia: HRC offers hit 7-m high, market awaits FHS price revision

The Asian hot-rolled coil market has reached a seven-month high of $600/tonnes (t), driven by a combination of rising export prices due to soaring iron ore and coking coal costs, as well as a rebound in the previously sluggish Chinese steel market.

Towards beginning of December 2023, SteelMint reported that Hoa Phat raised monthly HRC (SAE1006, non-skinpasses) prices for March 2024 sales by $30 m-o-m. Post-revision, effective prices stand at VND 14,680/kg or $600/t CIF HCMC (southern region) against previous price of VND 14,020/kg ($570/t) excluding VAT. The company has increased