ASEAN HRC Steel import prices gain further to $387 a ton

SINGAPORE April 07 2016 6:16 AM    

SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC)  steel import prices (CFR ASEAN port) has gained further by $4 a ton week-on-week  to $387 a ton in the week ended April 01, as per the latest figures released by  The Steel Index.

Amid slow market activity, TSI’s ASEAN HRC index finished the week at  $387 a ton, an increase of $4 a ton from last Thursday.

Despite efforts  by Chinese sellers to raise their offer prices for SAE 1006 grade material to  $400 a ton, transactions were done lower, mostly in the $385-390 a ton range.  

Small lots of Taiwanese-origin material were  seen concluded at $395 a ton, a similar price level to sales from Benxi earlier  in the week for June shipment.

The SS400 grade market was quieter, as  many Vietnamese stockholders held back from making new orders, unsure if they  will be able to pass price increases to end users. All prices quoted on a CFR  ASEAN port basis.