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.
Import offers for rebar sold to Singapore rose in the past week, but demand for such cargoes remains weak, market sources told Fastmarkets.
Prices in Egypt for steel billet imports and domestically produced steel rebar increased in the week to Thursday July 30 because of higher offers, despite soft demand, sources have told Fastmarkets.
In Asia HRC market A new wave of Covid-19 cases in some major Vietnamese cities has pulled buying interest from re-rollers down and prevented prices from further increases, sources said.
Flat steel import prices in the United Arab Emirates and Saudi Arabia have increased over the past week, although demand was only moderate, sources told Fastmarkets on Tuesday July 21.
Competitive prices of Russian cargoes softened hot-rolled coil prices in Asia over the past week, though the rate of decline are likely to slow down from this week with Indian offers gaining some stability, sources told Fastmarkets.
قیمت واردات میلگرد در سنگاپور در هفته گذشته با توجه به انتظار برای عرضه بیشتر در بازار کاهش یافت.
کشورهای عضو شورای همکاری خلیج (GCC) در مورد تصمیم آمریکا مبنی بر اعمال تعرفه ها در مورد واردات همچنین تهدیدهای ناشی از تحریم ها تصمیم گیری می کنند.
Import slab prices in Asia have risen by $15-20 per tonne over the past week, supported by the continued strengthening of hot rolled coil (HRC) prices in the region.
Crude steel production in the Middle East increased by 9.41% year-on-year in June 2017, according to the latest figures from the World Steel Assn (Worldsteel).
Import billet prices in SE Asia have increased again over the week in line with rising local Chinese quotes.