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Kallanish South East Asia Steel Markets Report - Week 22 (May 30, 2022)

Read the Kallanish South East Asia Report - Week 22, published 30th May 2022. This is a weekly subscription report analysing production, flats, longs, semis, and raw materials for the region. 

  • Flats: The Vietnamese market for imported hot rolled coil continues to be quiet on weak demand. Chinese mill offers continue to falter. SAE 1006 HRC from a popular Chinese mill is being offered at $770/t cfr Vietnam from $780/t cfr the week before, Vietnamese trading sources report. 
  • Longs: East Asian rebar and wire rod import markets continue to be bearish. Prices were heard lower last week on sluggish demand.
  • Semis: Philippine billet buyers are shrugging off import offers. Buying interest is thin because of weak demand and high inventories.
  • Raw Materials: Hyundai Steel has returned to the Japanese scrap marketplace with a hefty cut in its bid price. The South Korean mill’s bid marks its comeback after withdrawing from the market last month. Hyundai posted bids for Japanese H2 scrap on 26 May at JPY 53,500/t ($421/t) fob and for H1/H2 at JPY 54,000/t. 

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