Shrinking credit keeping steel trading thin in Asia, trading manager says

Shrinking credit lines have kept spot trading activity in the Asian steel market thin in recent weeks, a senior trading manager in Southeast Asia told Fastmarkets this week.

"Many traders and buyers have already used up their credit facilities for the month of July, and haven't been in the spot market regularly," the trading manager told Fastmarkets.
This was one of the major factors limiting spot trading activity in recent weeks, another being uncertainties over tax changes in China.
Vietnamese buyers of flat steel have been especially quiet, with numerous sellers pushing them to purchase materials.

"Many steel mills have been...

Published

Paul Lim

June 30, 2021

04:40 GMT

Singapore