SINGAPORE June 12 2014 11:05 AM
SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) continued to drop by $2 a ton week-on-week to $541 a ton in the week ended June 6th this year, as per the latest figures released by The Steel Index.
According to TSI, ASEAN HRC index slipped marginally last week after Chinese steel producers reduced offer prices for SAE grades to $545-550 a ton CFR ASEAN Port.
Japanese and S. Korean offers were heard closer to the $560 a ton mark CFR Vietnam and $580 a ton CFR Indonesia.
Demand from ASEAN regions is expected to suffer as a result of the political tensions in Thailand and upcoming Ramadan period in Indonesia.