ASEAN HRC Steel import prices remain flat on Lunar New Year Holiday

CHINA February 27 2015 10:15 AM

SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) remained flat during last week on Chinese Lunar New Year Holiday.

With much of Asia off enjoying the Lunar New Year, the short working week saw TSI’s HR coil ASEAN imports index for SAE grades fall $4 a ton from the previous week.

Chinese producers were mostly absent, with few offers even early in the week despite the willingness of some traders to close deals before the official celebrations commenced.

Some activity was reported – traders short sold material where the opportunity presented itself, most buyers preferred to postpone April shipment bookings at least until the end of the holiday period.