Steel news

Why HRC price keeps hiking up and when will it be cooled down?

Price level HRC SAE import price of Vietnam now is at 625 – 627$ CFR Vietnam (China origin), 620 – 635$ CFR (Korea and Japan origin), and no new transaction from India. Local HRC producer Formosa Ha Tinh has yet to offer new price, people expect price may be at 650$ CFR Vietnam level. Nevetherless, there is also guesstimate that HRC can be at incredible 700$ level.

Main export markets of Vietnam re-rolling mills now are America and Europe due to these areas can absorb high level of price. HRC USA reaches 880$ level while HRC price in EU is average 680$. Almost re-rolling mills are under full of capacity situation till March 2021 shipment and restrict to offer commercially into the market.

In Asean markets, there are two main trends: one group of importers are extremely keen on preparing material before next price wave coming, while the remaining group stays immobile to watch out the market with the perspective of market instability. This is easy to understand while: 1. Local price reaction rhythm is always slower than international rate; 2. New Year is coming and people expect price will go down again.

See detail December 3, 2020

Law services

Law news

Malaysia holds an anti-dumping administrative review on PPG steel products from Vietnam and China

On January 22, 2021, the Ministry of International Industry and Trade (MITI) issued the Notice of initiation of the administrative review of anti-dumping with regard to imports of pre-painted, painted, or color coated steel coils originating or exported from The People’s Republic of China and The Socialist Republic of Vietnam.

Before that, MITI published the Notice of Impending Termination of the Imposition of Anti-Dumping Duties on Imports of these products and received the request for the administrative review. This request was lodged by way of the petition by CSC Steel Sdn. Bhd. – the domestic producer in Malaysia of pre-painted, painted or color coated steel coils.

See detail January 25, 2021