SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) continued to stay below $300 a ton in the week ended September 11, as per the latest figures released by The Steel Index.
Week one of September saw a $7 a ton slump in transaction prices of Chinese-origin SAE grade HR coil. Last week saw a further fall in transaction levels, with offers and bids moving lower in response.
TSI’s ASEAN HR coil imports index shed another two dollars to mark yet another all-time low of $295 a ton CFR ASEAN port.
The movement is driven by underlying price fluctuations of Chinese material, as supply returns after the recent military parade shutdowns. 1kt of ASEAN HR coil swaps on SGX traded again on Tuesday (basis TSI).