Read the Kallanish South East Asia Report - Week 17, published 25th April 2022. This is a weekly subscription report analysing production, flats, longs, semis, and raw materials for the region. 

• Flats: Chinese hot rolled coil offers have fallen further in Vietnam. Chinese steel exports are now cheaper because of the recent RMB currency depreciation.
• Longs: The East Asian long product import markets are softening. Offer prices are falling, especially for wire rod imports. At the same time, more competitive offers for Chinese longs are surfacing in the region. This could be due to the widespread Covid lockdowns in China and the weakness of the CNY against the dollar.
• Semis: Regional billet importers in Southeast Asia are adopting a wait-and-see attitude in the falling market. The regional finished steel market is very sluggish. “It is an illiquid market environment,” a regional trader says
• Raw Materials: Scrap import prices have dipped in Vietnam. Market participants are adopting a wait-and-see approach. Offers for Japanese H2 scrap are now $590/t cfr southern Vietnam, and for HMS 1&2 50:50 from Hong Kong, $580/t cfr. This is around $10/t lower than the week before.

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