A positive outlook on Asian HRC prices rises stronger because of Chinese RMB currency

January 5, Asia hot rolled coil prices rose amid steady Chinese orders, stemming from the yuan’s continued appreciation against the US dollar, while market sentiment The market remained positive after China reopened its borders. Platts rated the 3mm thick HRC SS400 up $8/ton during the session at $600/ton FOB China. Coil of the same grade is valued at $4/ton during this period at $596/ton CFR Southeast Asia. In the export market, buyers are said to have started placing orders and are in the process of negotiations, according to several Chinese sources. However, little interest in buying from Latin America and the Middle East. In Vietnam, there is also little interest in buying HRC SS400. The asking and bid prices for the March delivery of SS400 are $595/ton CFR and $605/ton CFR respectively.

Source: http://vsa.com.vn/gia-hrc-chau-a-tang-do-dong-nhan-dan-te-manh-len-trien-vong-tich-cuc/