Prices of Indian HRC rise

          Offers for Indian HRC in Vietnam shot up nearly $30/mt from $390/mt on May 6 to $420/mt on May 15, according to Platts data, with buy-side sources having to catch up with bids touching $412-$413/mt Friday.

          "I think one of the reasons why customers here accepted the higher levels [is] because of low inventory. They have not bought much since early this year," a Vietnam-based trader said.

          Separately, Platts assessed SS400 HRC 3 mm thick at $408/mt FOB China Friday, up $5/mt on the day. On a CFR Southeast Asia basis, the assessment was at $417/mt, up $10/mt from Thursday, with Chinese mills unwilling to lower prices.

          "Buyers are catching up now, as there are no cheap material in the market," said an East China-based trader.

          In Shanghai, the Q235 5.5 mm HRC spot price was assessed at Yuan 3,450/mt ($485.76/mt) ex-stock, including value-added tax, Friday, up Yuan 30/mt on the day.

-- Ashima Tyagi, Analyst Yuelin Dai