SINGAPORE (Scrap Register): ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) declined further by 0.2% week-on-week to $543 a ton in the week ended May 30th this year, as per the latest figures released by The Steel Index.
According to TSI, Chinese producers tried to raise their HRC export prices by $5 a ton early this week, but the persistent weakness in iron ore prices thwarted their efforts.
SAE grades were prevailingly transacted near the $545 a ton mark and SS400 grades between $523-525 a ton (CFR ASEAN Port).
Chinese mill Magang reportedly sold SAE material to Vietnam for the first time this week, but buyers were only willing to commit to small volumes for re-rolling purposes.
TSI’s monthly average for ASEAN imports of HRC SAE grade ended May at $546.65 a ton.