ASEAN HRC Steel import prices fall to below $400 a ton-Shanghai Metals Market

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ASEAN HRC Steel import prices fall to below $400 a ton

Industry News 03:41:09PM Nov 02, 2016 Source:Scrap Register

SINGAPORE November 02 2016 12:09 PM
SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) fell to below $400 a ton during the week ended September 09, as per the latest figures released by The Steel Index.

ASEAN HRC index dropped by $5 a ton to finished the week at $396 a ton. After two consecutive weeks of weak sentiment in the Chinese steel futures market, producers have finally lowered their offers to around $400-405 a ton for HRC SAE grade, a decrease of $10-15 a ton. 

Vietnamese buyers used this drop to apply pressure on traders with positions in hand, trying to obtain further discounts. During the week several transactions were heard concluded at $394-398 a ton for SAE grade from second-tier Chinese mills. 

HRC SS400 grade from China was offered between $385-390 a ton by a trader, but this level attracted no interest from buyers. 

Some market participants commented that this week’s price drop is a correction from the previous “unreasonable” climb in steel prices.

All prices quoted on a CFR ASEAN port basis.

Price

more
62% Fe Fines (Qingdao Port): IOPI62
Apr.19
669.0
0.0
(0.00%)
62% Fe Fines (Qingdao Port, CFR Equiv.)
Apr.19
92.0
-0.2
(-0.20%)
58% Fe Fines (Qingdao Port): IOPI58
Apr.19
601.0
0.0
(0.00%)
58% Fe Fines (Qingdao Port, CFR Equiv.)
Apr.19
82.2
-0.2
(-0.19%)
65% Fe Fines (Qingdao Port): IOPI65
Apr.19
777.0
3.0
(0.39%)

ASEAN HRC Steel import prices fall to below $400 a ton

Industry News 03:41:09PM Nov 02, 2016 Source:Scrap Register

SINGAPORE November 02 2016 12:09 PM
SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) fell to below $400 a ton during the week ended September 09, as per the latest figures released by The Steel Index.

ASEAN HRC index dropped by $5 a ton to finished the week at $396 a ton. After two consecutive weeks of weak sentiment in the Chinese steel futures market, producers have finally lowered their offers to around $400-405 a ton for HRC SAE grade, a decrease of $10-15 a ton. 

Vietnamese buyers used this drop to apply pressure on traders with positions in hand, trying to obtain further discounts. During the week several transactions were heard concluded at $394-398 a ton for SAE grade from second-tier Chinese mills. 

HRC SS400 grade from China was offered between $385-390 a ton by a trader, but this level attracted no interest from buyers. 

Some market participants commented that this week’s price drop is a correction from the previous “unreasonable” climb in steel prices.

All prices quoted on a CFR ASEAN port basis.