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South East Asia Steel Markets Report - Week 34 (Aug. 25, 2021)

Read the Kallanish South East Asia Report - Week 34, published 25th August 2021. This is a weekly subscription report analysing production, flats, longs, semis, and raw materials for the region. Additionally, the production section includes brand new data series monitoring hot metal production activity in the region at the blast furnace level.

  • Production: Southeast Asian blast furnace activity remains subdued amidst a range of measures to restrict the further spread of Covid-19. 
  • Flats: Hoa Phat has sold out all its domestic allocations for October shipment, according to a source close to the company. 
  • Longs: The ASEAN import markets for wire rod and rebar are falling. The recent plunge in Chinese steel futures has further depressed regional markets already reeling from weak steel demand due to Covid-19 movement restrictions.
  • Semis: The billet import market has fallen under $700/t cfr in Southeast Asia. ASEAN exporting mills lowered offers amid a plunge in the Chinese steel and iron ore markets.
  • Raw Materials: As Taiwan's domestic steel and scrap prices have fallen, scrap import prices have also declined.