Reportedly, the current price on HRC SS400 3.0mm*1,250mm*C in Vietnam is at US$650~US$660/ton (VAT included), remaining unchanged from last week. However, trading volume remains low as the demand is still weak. Figures showed on April 18 that the country's GDP growth rate in the first quarter is 4.9%, lower than the last quarter of 5.4% in 2012, which indicates the demand for steel products is lower than expectation. Further, some Chinese steel mills started to offer lower prices on CFR basis at around US$565/ton, which also gives pressure on domestic HRC prices. Therefore it is forecasted that the price will decrease in the short run.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64116&division=A2
