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.
The price of imported hot rolled sheets in the main market of Vietnam reached its highest level in two and a half years due to increased demand.
Flat steel import prices have risen in the UAE and Saudi Arabia over the past week, although this has been adjusted in the UAE due to the holidays.
Chinese hot rolled sheet is still the main source of supply for Vietnam's main import market due to high demand.
Exports of Chinese steel plates rose further last week due to continued buying from Southeast Asia. Fastmarkets’ price assessment
The market for steel billets imported into Southeast Asia rose again last week, with suppliers raising their bids on steel prices in China.
The rising flat steel market in Asia supports the export price of cold and galvanized sheet.
Prices of imported hot rolled sheets in Vietnam, Asia's main market for flat steel products, rose last week due to a shortage of materials.
The price of billets imported to Southeast Asia has risen sharply due to rising Chinese steel markets.
Gulf Flat steel import prices in the United Arab Emirates (UAE) have increased over the past week because of a shortage of hot-rolled coil, sources said on Tuesday November 10.
The import price of hot rolled sheets to the major Vietnamese market has increased due to the low supply of this product.