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Kallanish South East Asia Steel Markets Report - Week 21 (May 23, 2022)

Read the Kallanish South East Asia Report - Week 21, published 23th May 2022. This is a weekly subscription report analysing production, flats, longs, semis, and raw materials for the region. 

  • Flats: A Vietnamese mill’s deep price cut for its domestic hot rolled coil products underscores the weakness in the Vietnamese hot rolled coil market. Hoa Phat Dung Quat Steel announced on 21 May a $130/t reduction for its July/August shipments effective 23 May.
  • Longs: The rebar import markets in Singapore and Hong Kong continue to drift lower. Suppliers are reducing offers to attract buyers, but importers are preferring to delay purchases in a falling market.
  • Semis: Suppliers continue to shave off billet prices in order to entice buyers in Southeast Asia. However, buyers are cool and non-committal because there are no signs of price support.
  • Raw Materials: The continued price declines in the global scrap market and weakening of Taiwan's local steel market have led to a slump in scrap prices to Taiwan.

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