ASEAN HRC Steel import prices continue to drop to $537 a ton

SINGAPORE June 27 2014 9:37 AM SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) continued to drop by $1 a ton week-on-week to $537 a ton in the week ended June 20th this year, as per the latest figures released by The Steel Index.

According to TSI, daily ASEAN HR coil index weakened further last week to $537 a ton as buyers adopted a cautious approach with sentiment still negative.

Traders continued to short sell SAE grades in the $535-538 a ton range whilst deals for SS400 grades were done as low as $510 a ton (CFR ASEAN Port).

Japanese producers, supported by stronger domestic demand kept their export offers unchanged, thus further widening the spread between Japanese and Chinese-origin HRC offers.