CHINA March 26 2015 11:24 AMTweet
SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) slipped by $1 a ton week-on-week to $388 a ton during last week, as per the latest figures released by The Steel Index.

Chinese HR coil prices for SAE grades remained relatively stable last week, with most offers between $385-395 a ton CFR ASEAN port. However, trading prices for SS400 grades of Chinese-origin HR coil offers did pick up slightly at around $385 a ton CFR.

The premium for SAE material from other countries continues to narrow, with sellers offering in the $400-410 a ton CFR range.

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Chinese steel producers are aiming for higher offer levels in the coming weeks according to market participants, citing improved long steel prices in the region as a driver.

Whether that prevails is very much uncertain - buyer sentiment, as it is globally, remains especially weak.