Steel billet sellers are increasingly exploring options to sell material into Southeast Asia amid a lack of interest in imports from key buyers in China and the worsening Chinese port congestion.
Spot prices for imported hot-rolled coil in Vietnam were unchanged in the week to Friday August 6 amid persistent poor demand for imported Indian and Chinese material.
The rise in ticket prices in India is justified by rising environmental risks in recent days. Monsoon rains in India have reduced the rate of direct production of metal products in the country. For this reason, we are witnessing a decline in prices in the domestic markets of this country as well as in the export markets.
A barrage of import steel billet deals have been concluded with Chinese buyers this week at progressively higher prices, sources told Fastmarkets on Friday July 23.
Spot demand for imported hot-rolled coil in Vietnam dipped in the week to Friday July 23 after major domestic producers in the Southeast Asian country issued new offers.
Steel billet buyers across Asia are facing a raft of expensive offers following frenetic buying activity among Chinese customers last week, sources told Fastmarkets on Monday July 19.
The availability of significant volumes of lower-priced induction furnace (IF) steel billet in the Philippines import market has led to a cooling of interest in higher-priced blast furnace (BF) billet, sources told Fastmarkets on Friday July 2.
The Asian scrap metal market has been growing rapidly over the past year. Japan is the flagship of the use of scrap iron in the Asian steel industry. Last year, Vietnam performed very well and satisfactorily in this area. Using electric arc furnaces and changing their feed to scrap iron can be a great opportunity to adjust the price of iron ore.
The steel rebar and billet import market in the United Arab Emirates was slow after the country’s biggest steel producer announced reduced rebar prices, sources told Fastmarkets on Tuesday June 29.
Flat steel prices for imports into the United Arab Emirates and Saudi Arabia decreased during the week ended Tuesday June 29, but demand was better because of low stock levels, Fastmarkets was told.
The UAE rebar trend has been assessed in accordance with the latest Metal Bulletin forecasts. Prices in the UAE market are in line with global markets, and this order is less common in Asian countries. It seems that the price of rebar in the UAE market will continue to decline.