Indian HRC offers to Vietnam almost disappear as home-market prices surge

Offers for Indian hot-rolled coil (HRC) to Vietnam – the largest market for Indian hot coils in Asia – have become extremely scarce as surging prices at home have prompted Indian mills to prioritize domestic sales and those to more profitable markets such as Europe, Mysteel Global has learned.

Limited Indian HRC offers to Vietnam were recorded at around $550/tonne CFR this week, some $20-22/t higher than at the end of August, market sources in Vietnam tell Mysteel Global. Offers to Europe were seen variously at $700-730/t CFR, about $70/t higher than last month, according to Japanese industry