ASEAN HRC Steel import prices slip to $279 a ton

INGAPORE November 04 2015 10:35 AM

SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) slipped by $2 a ton to $279 a ton in the week ended October 23, as per the latest figures released by The Steel Index.

According to TSI, benchmark ASEAN HR coil index had a flat week as trade was a little lacklustre due to diverging bids and offers that many have proven unwilling to cross.

The spread between Chinese-origin ‘premium’ mill offers and buyer expectations is as wide as $15 a ton CFR ASEAN port for SAE 1006 grade material, which initially hampered major deal flow, although pockets of trade occurred at flat levels.

The week ended with some mill-direct volume being done, which served to bring the index back up to where it started the week. Lead-times fell to an average of 7 weeks.