Asian HRC rebounds amid stronger China market

摘要

Asian HRC prices rebounded on July 8 in line with the pickup in buying indications in Vietnam along with a surging Chinese futures market, which hit the highest level in nearly seven months.S&P Global Platts assessed SAE1006 HRC at $440/mt FOB China on July 8, up $5/mt day on day. On a CFR Southeast Asia basis, the same grade of coil was assessed at $438/mt, up $6/mt over the same period. In Vietnam, local buyers were heard catching up modestly and have started to return to the market, after being essentially muted for several days. This was in line with the return of China’s demand for imports amid a strong rally and optimism in the domestic market.