ASEAN HRC Steel import prices drop further to $401 a ton
13 February 2015
ASEAN hot rolled cold (HRC) steel import prices (CFR ASEAN port) dropped further by $19 a ton week-on-week to $401 a ton in the week ended February 06, as per the latest figures released by The Steel Index.
The small rebound in HR coil offers for SAE grades late last week did not last for long as spot prices continued their march towards the $400 a ton CFR ASEAN port mark.
SAE grade offers dipped to between $395-410 a ton CFR with SS400 grade offers a few dollars lower.
Purchasing activity picked up this week as buyers concluded small quantities ahead of the Lunar New Year holiday.
SGX cleared 6kt of ASEAN HR coil swaps on the final day of January, a Q2 swap concluded for $420 a ton to bring the month’s total volume to 12 kilo ton.