“With HRC offer price down to $830-$850/mt [FOB China], CRC can be lower and still profitable for producers,” said a Malaysia-based trader.

          Platts assessed the same CRC grade at Yuan 5,500/mt ex-stock, including VAT, in the Shanghai dealers’ market, down Yuan 30/mt on the week, S&P Global data showed.

          Separately, the SS400 grade, 12-20 mm thick plate was assessed at $838/mt FOB China, down $2/mt on the week. On a CFR East Asia basis, similar grades at 12-25mm thick plate was assessed at $878/mt, down $2/mt on the week.

          In Vietnam, domestic plate prices were heard around $865-$870/mt, while indicative import offers remained relatively unchanged at $885/mt CFR Vietnam. Given the much lower domestic prices, import demand from Vietnam remained weak.

          Chinese domestic prices of the Q235 grade material were assessed at Yuan 5,130/mt ex-stock Shanghai, including VAT, down Yuan 20/mt on the week.