SINGAPORE July 31 2014 11:17 AM
SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) continued to rise by $2 a ton week-on-week to $541 a ton in the week ended July 18th, as per the latest figures released by The Steel Index.

Offers for Chinese-origin HR coil SAE grades ranged between $540-550 a ton (CFR ASEAN port), as buyers upped their bids to conclude deals this week.

Japanese and South Korean offers remained flat week-on-week which could prompt deals with Vietnamese re-rollers if price differentials to Chinese material are minimal.

As Ramadan draws to a close, Eid festivities will likely cause a slowdown in trading activity in Indonesia and Malaysia, with Japanese and South Korean HRC exporters hoping to secure orders from other ASEAN markets instead.