ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) advanced further by $2 a ton week-on-week to $539 a ton in the week ended July 11th this year, as per the latest figures released by The Steel Index.
Chinese producers increased HRC prices last week and SAE grades were offered in the $540-545 a ton range (CFR ASEAN Port). However, buyers preferred to postpone their bookings with bids well below $540 a ton.
Indian-origin HRC was offered to Vietnam at $550 a ton, and some cargoes were sold to Thailand near the $565 a ton mark, a higher price due to country’s AD duties on HRC imports.
A South Korean mill offered HRC at $575 a ton CFR Vietnam, whilst Japanese material was also offered at similar levels. Both cargoes attracted bids in the $560-565 a ton range.