ASEAN HRC Steel import prices decline further to $481 a ton

SINGAPORE December 18 2014 11:25 AMTweet 
SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) declined further by $4 a ton week-on-week to $481 a ton in the week ended December 12, as per the latest figures released by The Steel Index.

According to TSI, the imports market remained depressed in the ASEAN region, with weak raw material prices and slow demand suppressing finished steel prices.

Chinese export prices for HRC (SAE grades) went down to $480-485 a ton, while offers from the second-tier Chinese mills were as low as $470-475 a ton (CFR ASEAN Port).

Indian and Brazilian HRC was heard to be offered close to the US$480/t mark (CFR Vietnam). Japanese HRC asking prices were higher at $505 a ton, but buyers were not willing to pay a significant premium over the Chinese material.

Meanwhile, news emerged that CISA might be announcing changes to the tax-rebate policy on boron-added steel as early as next week, possibly removing current tax incentives.