[SMM Steel] Rapid Decline in China's Export Prices Spills Over to ASEAN Import HRC Prices Follow Suit

Published: Aug 4, 2026 16:34

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[Vietnam] ASEAN hot-rolled coil (HRC) import offers slipped to 510 USD/tonne CFR. Meanwhile, Vietnam's Hoa Phat announced a price reduction for September deliveries to 535 USD/tonne CIF Vietnam, as offers for Indian and Indonesian origin material landed at 500–510 USD/tonne CFR Vietnam, placing additional pressure on domestic quotes and pointing to intensifying low-cost competition across the region. Although anti-dumping measures against Chinese HRC were originally expected to bolster domestic flat steel, sluggish end-user demand and pervasive wait-and-see sentiment among buyers mean that falling import prices are directly eroding domestic price support.

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