ASEAN HRC Steel Import Prices Decline Sharply to $420 Per Ton

2015-02-07

ASEAN hot rolled cold (HRC) steel import prices (CFR: ASEAN port) decline sharply by $19 per ton week-on-week to $420 per ton at the weekend 30th, January, as The Steel Index.

With the weak demand in the domestic market, HRC exports into the ASEAN region plunged, and the daily benchmark prices finished at $420 per ton, down $19 per ton week-on-week.

Towards the end of the month, Chinese-origin SAE grades traded in a wide $405- 430 per ton range, whilst Japanese material was heard to be offered at a significantly higher level, closer to the $450/t mark (CFR: ASEAN Port).

Cargoes offered by traders differed on price levels, as they were seeking to short-sell more material for March delivery. Some lower offers from traders, in turn, allowed buyers to put pressure on mills to reduce their bargain.

Meanwhile, 3kt of ASEAN HRC swaps for Q2 2015 cleared at $432.50 per ton on SGX.