[SMM Steel] Indonesian HRC Flat at $515/mt FOB Amid Low Local Demand, Price Pressure Builds in Vietnam

Published: Oct 22, 2026 16:21 (GMT+8)

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[Indonesia] HRC prices remain at USD 515/metric ton FOB, with demand still sluggish and little to no change in the market. Although Chinese futures prices have fallen, the impact has been limited, as local market fundamentals remain unchanged. In Vietnam, Indonesian HRC offers remain under pressure at USD 533-535/mt CFR Vietnam. Trade flows may stall, however, as some buyers have already secured their needs. Prices are expected to face further downward pressure, with some buyers bidding as low as USD 532/mt CFR Vietnam. Vietnamese mills’ next monthly price announcements will likely be key to trade flows in Vietnam, while FOB prices will depend heavily on local demand.

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