ASEAN HRC Steel import prices remain flat at $281 a ton

SINGAPORE October 28 2015 10:15 AM

SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) remained flat at $281 a ton in the week ended October 16, as per the latest figures released by The Steel Index.

The ASEAN HR coil index was flat during last week as buying appetite for Chinese-origin steel into some countries seized on buyer anticipation of lower prices. 

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Offers on a mill-direct basis, however, remained unmoved above the recent spot level. Other North Asian exporters were targeting nearby controlled markets rather than competing with lower-priced Chinese offers into ‘open’ ASEAN markets. 

Despite this change in tactic, asking prices from Japanese mills did still trend down, becoming more competitively priced. 1.5kt of ASEAN HR coil swaps on SGX traded again the week (basis TSI).

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