Asia steel slab import prices slump on reduced asking prices

Import prices for steel slab in Southeast Asia and East Asia tumbled over the past week after producers accepted lower prices amid a bearish sentiment in the downstream flat steel markets, sources said on August 19.

For instance, a flurry of short-selling activity has applied downward pressure to hot-rolled coil prices in Vietnam, with India-origin HRC actively trading due to sluggish demand in its domestic market during the country’s monsoon season. Fastmarkets’ price assessment for steel hot-rolled coil import, cfr Vietnam was $475-479 per tonne cfr on August 19, down $18-20 per tonne from a week earlier. “In the past, Indian mills have sold competitively...

Published

Lee Ken Kiat

August 19, 2019

12:25 GMT

Singapore