Source: Metal.com News
ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) continued to drop by $5 a ton week-on-week to $485 a ton in the week ended December 05, as per the latest figures released by The Steel Index.
According to TSI, HR coil offers from tier one Chinese steel producers started off higher last week but soon fell below $490 a ton CFR ASEAN port.
Indian steel producers offered material at slightly lower levels, similar to tier two Chinese mills. Japanese asking prices rose to $520-530 a ton CFR ASEAN port but unsurprisingly did not entice bids from traders.
Bids for SS400 grades were below $460 a ton CFR but the spread to asking prices was almost US$10/t wide.