CHINA April 06 2015 9:20 AM
SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) advanced sharply by $7 a ton week-on-week to $395 a ton during last week, as per the latest figures released by The Steel Index.
With the rebound in Chinese domestic steel prices, export offers also increased this week. Chinese-origin SAE grades were offered above the $400 a ton mark, although concluded prices were a few dollars below (CFR ASEAN port).
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Asking prices for SS400 grades were between $390-395/t, a similar price level to SAE material. With rising Chinese prices, Japanese, South Korean and Taiwanese HR coil became popular alternatives for the importers.
Non-Chinese offers stood near $420/t, but deals were concluded lower at around $400/t (CFR Vietnam) or $410-415 (CFR Indonesia). Meanwhile, more ASEAN HRC swaps (basis TSI) cleared on SGX.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to email@example.com)