SINGAPORE June 03 2015 12:26 PM
SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) declined by $7 a ton to $372 a ton in the week ended May 22, as per the latest figures released by The Steel Index.
Offers for Chinese HR coil fell below $380 a ton the week, with SAE grades mostly offered between $370-375 a ton CFR ASEAN Port. But as the prices remained volatile, many of the buyers were not prepared to conclude transactions and preferred to wait on the sidelines.
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Japanese mills slightly raised their asking prices to $385 - 390/t, but with the down trend in Chinese offers, increases were difficult to achieve and deals concluded closer to bidding levels of $380 a ton.
Taiwanese HRC was offered at a similar price level, around $385 a ton, but many buyers opted for Japanese material instead. Chinese-origin SS400 grades were sold closer to $365 a ton, slipping $5 a ton from one week ago.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)