ASEAN HRC Steel import prices slightly up to $389 a ton

SINGAPORE September 20 2016 4:20 PM

SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) slightly up by $2 per ton to $389 a ton during the week ended August 05, as per the latest figures released by The Steel Index.

China’s domestic market continued to move parallel with the ever fluctuating steel futures market. After a slight fall during the middle of the week, the most active SHFE steel futures contract bounced back again on Friday.

Chinese mills held firm on their high offers for HRC, at around $395-410 a ton for SAE grade and $380-385 a ton for SS400 grade. As a result, Vietnamese buyers opted to buy from other sources. A large quantity of Indian HRC SAE grade was heard to have been sold to Vietnam at $385 a ton. 

Moreover, Russia’s MMK was reportedly willing to sell at $370-380 a ton for small and big coils respectively of the same grade for October shipment. 

Re-rollers bought material from Taiwan and Japan, which carried premiums over Chinese material of $15 a ton and $20 a ton respectively. All prices quoted on a CFR ASEAN port basis.