SINGAPORE January 18 2017 10:30 AM
SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) fell by $3 a ton to $511 a ton during the week ended January 06, as per the latest figures released by The Steel Index.
The physical market had a quiet start to the year due to a bearish Chinese steel futures market. Chinese mills were heard to drop their offers to between $520-530 a ton for SAE grade and $510 a ton for SS400 grade, while traders were willing to sell their position cargoes $10 a ton lower.
However, little interest was shown by Vietnamese buyers. Meanwhile, Thai re-rollers had almost no choice but to accept HRC at $570-580 a ton from their domestic mills because of anti-dumping duties in place.
Indonesian producers reportedly received offers at $580 a ton for HRC from Indian mills. All prices quoted on a CFR ASEAN port basis unless otherwise stated.