SINGAPORE October 31 2016 9:20 AM

SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) dropped to $401 a ton during the week ended September 02, as per the latest figures released by The Steel Index.

According to TSI, ASEAN HRC index ended the week at $401 a ton, down $8 a ton from last Friday. Early in the week SAE grade HRC from Japan and Taiwan was heard to be booked at $425 a ton.

However, market sentiment took a hit following a continuous fall in the Chinese derivatives market. In response, some traders slashed their offers by $5-10 a ton, but still failed to stoke customers’ interest, as most of them adopted a wait-and-see approach. 

SAE grades from first-tier Chinese mills (i.e. material used for re-rolling) was offered between $408-415 a ton, and Chineseorigin SS400 grade was offered at $385 a ton. 

Vietnam is celebrating its National Day, ensuring a quiet end to the week for the seaborne market. All prices quoted on a CFR ASEAN port basis.