Posted on 02 Jul 2015
ASEAN HRC Steel import prices drop to $354 a ton
ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port)
dropped by $6 a ton to $354 a ton in the week ended June 26, as per the
latest figures released by The Steel Index.
According to TSI, offer prices from Chinese mills for HRC (SAE
grades) slid below the $360 a ton mark and TSI’s benchmark index
finished the week at $354 a ton CFR ASEAN Port.
For Live Chinese Steel Scrap Prices Log on to Scrap Register
Buyers approached the market with caution, as many expected the
downward trend to continue anticipating prices may fall below $350 a ton
in the near term.
Japanese mills resisted lowering their asking prices to match those
of Chinese steel producers and were offering HRC in the $375-380 a ton
range, with bids heard around $370 a ton.
SS400 grades were offered around $350 a ton, while transactions
were mostly concluded between $343-345 a ton with some traders
reportedly selling as low as $340 a ton.
Meanwhile, 2kt of ASEAN HR coil swaps (basis TSI) were cleared this week on SGX.
