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ASEAN HRC Steel import prices advance further to hit best since July 2015
Mar 10,2016 17:41CST
industry news
Source:SMM
ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) continued to advance significantly week-on-week at $327 a ton in the week ended February 26.

SINGAPORE March 10 2016 2:48 PM    

SINGAPORE (Scrap Register): ASEAN  hot rolled cold (HRC) steel import prices (CFR ASEAN port) continued to advance  significantly week-on-week at $327 a ton in the week ended February 26, as per  the latest figures released by The Steel Index.

Acording to TSI, ASEAN  HRC index gained $19 a ton during the week, finishing at $327 a ton, its highest  level since July last year.

It was a hectic week for Vietnamese buyers  chasing Chinese-origin material, with asking prices increasing every day.  Chinese steel producers preferred to focus on domestic sales and export offers  were limited, the scarcity of material giving mills an upper hand in  negotiations.

Towards the end of the week asking prices were seen moving  even higher – SS400 grade material was heard offered at $325 a ton for May  shipment, whilst bids for SAE grade HRC were heard as high as $330 a ton,  although no transactions were yet to be done at this level.

Market  participants commented that they expected this uptrend to continue in the near  term, but the long-term outlook remained bleak as a result of structural  oversupply. All prices quoted on a CFR ASEAN port basis.


ASEAN hot rolled cold (HRC) steel import prices

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