ASEAN HRC Steel import prices stay flat on Chinese New Year holidays

CHINA February 18 2016 11:29 AM

SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) stayed flat week-on-week at $293 a ton in the week ended February 12, as per the latest figures released by The Steel Index.

According to TSI, ASEAN HRC imports index remained unchanged at $293 a ton CFR ASEAN port, as the Chinese market was closed for the Lunar New Year holiday. 

While some traders in Hong Kong and Singapore resumed operations towards the end of the week, ASEAN steel importers were largely absent from the market as they await the return of Chinese steel producers next week. 

China Customs reported that during the course of 2015 ASEAN countries imported around 4.1 million tons of HRC from China, up 15% y-o -y, with Vietnam accounting for 80% of the total volume. 

Japan and South Korea exported 4.6 and 2.4 million tons of HRC respectively over the same period, the Japan Ministry of Finance and Korea Customs and Trade Development Institution data showed.