ASEAN HRC Steel import prices plummet to $310 a ton

SINGAPORE August 14 2015 10:06 AM

SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) plummeted by $8 a ton to $310 a ton in the week ended July 31, as per the latest figures released by The Steel Index.

Despite some rebound in the Chinese domestic market, export HR coil prices remained weak and TSI’s ASEAN HRC imports index finished the week at $310 a ton CFR ASEAN Port.

While SAE grade offers from top-tier Chinese mills were around $325 a ton, traders were heard short selling material from smaller mills between $310- 315 a ton.

Offers from Japanese steel producers fell to $345-350 a ton, as last week’s price level of around $360 a ton failed to attract any interest.

Offers for Chinese-origin SS400 grades were heard close to $310 a ton for September shipment.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)