ASEAN HRC Steel import prices decline further to $313 a ton

UNITED KINGDOM August 31 2015 10:05 AM

SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) declined further by $5 a ton to $313 a ton in the week ended August 21, as per the latest figures released by The Steel Index.

There were a limited number of cargoes transacted this week as traders took stock of sharp downward movements in the Yuan, but also currency depreciations in nearby ASEAN regions such as Vietnam and Malaysia as well. 

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Caution has crept in and buyers prefer to wait, with only the keenest bidding, albeit at very low levels. Chinese HRC (SAE) offers fell to between $312-318 a ton CFR ASEAN port this week whilst Chinese SS400 offers were between $310-315 a ton CFR. 

Japanese HRC (SAE) offers were pegged closer to $340-345 a ton CFR levels, with buyers bidding at $330 a ton, attracting little selling interest.

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