SINGAPORE April 05 2016 9:21 AM
SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) has reported a sharp increase of $20 a ton week-on-week to $383 a ton in the week ended March 25, as per the latest figures released by The Steel Index.
According to TSI, With the absence of Japanese and Taiwanese suppliers, Vietnamese re-rolling mills were faced with a supply shortage for their May shipment orders. This left Chinese steel producers as the main suppliers to the ASEAN imports market, despite constantly rising offer prices.
Towards the end of the week, market activity had started to slow, as a weakening domestic steel market in China put ASEAN buyers on alert and into a wait-and-see mode. HRC cargoes (SAE 1006 grade) for June delivery were heard to be offered between $390-400/t, but buyers’ interest remained muted.
One Vietnamese re-roller commented that predicting demand during the historically rainy month of June would be a challenge. All prices quoted on a CFR ASEAN port basis.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to email@example.com)