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.
Asian steelmakers expect steel demand to recover from the Covid-19 epidemic in 2021, although recovery rates are low in some areas, according to board members at an online conference.
Flat steel import prices in the UAE have risen over the past week.
Offers for Asia SAE1006 HRC into Vietnam have increased on less spot supply in the market in the week to Monday October 26, sources told Fastmarkets. *** ASIA SAE1006 HRC , Indian and Chinese Indian mills were offering December-shipment import cargoes at $535 per tonne cfr Vietnam, while traders were offering similar material at $540 […]
Gulf Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia mostly edged down over the past week amid limited demand, sources said on Tuesday October 20. *** GULF FLAT STEEL , UAE Offer prices for hot-rolled coil from suppliers in India remained steady week on week at $525-535 per tonne cfr, […]
After a period of negative news following the COVID-19 virus pandemic, some Indian steel industries have finally embarked on a new production path and set financial incentives for buyers of their products. This was initially done with the focus on the domestic market, which after initial tests and feasibility studies of real profit margins for international markets was also proposed and drew a huge flood of global steel buyers to India.
Higher freight rates for Asia scrap routes in both bulk carriers and containers have jacked up prices for the secondary raw material , market sources have told Fastmarkets.
Buyers booked at least four cargoes of imported Asia HRC on a cfr Vietnam basis in the week to Monday October 19, with Russia, China and Kazakhstan among the main suppliers, sources told Fastmarkets.
Flat steel import prices in the UAE and Saudi Arabia remained stable in the week ending September 15 due to low demand and relatively high raw material prices.
Limited supply of hot rolled sheets, as well as increased offers from the Vietnamese plant Formosa Ha Tinh Steel Corp, boosted import prices in Vietnam last week.
Some flat steel import prices rose again this week in the UAE and Saudi Arabia, although demand was moderate.