Vietnam’s HRC market declines, Formosa lowers offers

Latest NewsBy lmmgroupJune 20, 2022Leave a comment

The Vietnamese hot rolled coil market continues to deteriorate, Kallanish notes. Vietnamese producer, Formosa Ha Tinh Steel has lowered the domestic price for its August shipments further. At the same time, traders are pressing down the import market more quickly than expected by short-selling. Formosa has cut the offer price for its new allocations of…

Indian mills consider shutdowns for maintenance amid falling demand

Latest NewsBy lmmgroupJune 20, 2022Leave a comment

Following the steel export duty imposition, India’s domestic market has witnessed a sharp fall in steel prices, and sentiment has turned favourable for downstream units. This, however, is impacting large steel producers, who have surplus inventories that can be shifted only in the domestic market. Some are heard preferring temporary shutdowns over selling steel at…