ASEAN HRC Steel import prices continue to drop to $283 a ton

SINGAPORE October 13 2015 9:11 AM

SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) continued to drop by $2 a ton to $283 a ton in the week ended October 02, as per the latest figures released by The Steel Index.

With National Day celebrations in China, the ASEAN imports market was dominated by traders attempting to short-sell material.

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Asking prices from Chinese mills for SAE 1006 grade HR coil were close to $285 a ton CFR ASEAN Port early in the week, whilst traders’ offers were a few dollars lower.

SS400 grades mostly transacted around $275-278 a ton, although some lower offers were also heard.

But as the majority in the market expected further price decreases to come next week, buyers were hesitant to place bids, adopting a wait-and-see attitude.