SINGAPORE May 09 2016 4:44 PM
SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) rose sharply by $37 a ton week-on-week to $479 a ton in the week ended April 22, as per the latest figures released by The Steel Index.
According to TSI, ASEAN HR coil benchmark index closed the week at $479 a ton CFR ASEAN port, rocketing $37 a ton from one-week ago.
SS400 grade HR coil was booked in the $470-480 a ton range with buyers procuring material from a wide range of sources. Pipe makers in northern Vietnam opted for Russian-origin HRC whilst SAE-grade HRC from Taiwan concluded between $480-485 a ton.
Traders also offered Indian material for July shipment at small discounts to Chinese offers though no bids were heard at time of publication.