SINGAPORE September 16 2016 1:17 AM
SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) up by $8 per ton to $387 a ton during the week ended July 29, as per the latest figures released by The Steel Index.
The week started with a slight drop in prices as some traders were eager to sell their position cargoes. However, as the domestic Chinese market picked up, asking prices for exports from both mills and traders increased as well.
Sellers were offering Chinese HRC SAE grade between US$390-395/t, rejecting bids at $385 a ton. But as the majority of Vietnamese pipe makers resisted going above $375 a ton, trading activity for Chinese material was almost mute.
Re-rolling grades of HRC were heard offered to Vietnam at $412 a ton and $415 a ton from Taiwan and Japan, respectively, with limited allocations. All prices quoted on a CFR ASEAN port basis.