Home / Metal News / ASEAN HRC Steel import prices plummet further to $438 a ton

ASEAN HRC Steel import prices plummet further to $438 a ton

iconMay 25, 2016 09:03
Source:SMM
ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) plummeted further by $27 a ton week-on-week to $438 a ton in the week ended May 06.

SINGAPORE May 24 2016 5:05 PM

SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) plummeted further by $27 a ton week-on-week to $438 a ton in the week ended May 06, as per the latest figures released by The Steel Index. 

According to TSI, ASEAN HRC index ended the week at $438 a ton, a fall of $27 a ton from last Friday. With the continuous drop in Chinese domestic HRC prices, importers throughout Asia became very pessimistic about future price direction. 

Several traders rushed to offload their cargoes by reducing prices, while others preferred to wait for a clearer trend and held on to their previous offer levels. 

This created a wide spread of asking prices in the market, as SAE-grade material was offered between US$430-480/t and SS400 grades in the $420-450 a ton range.

Buyers’ confusion about the price level resulted in a significant slowdown in trading activity towards the end of the week. All prices quoted on a CFR ASEAN port basis.


steel imports
steel imports prices
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news