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Kallanish South East Asia Steel Markets Report - Week 26 (June 27, 2022)

Read the Kallanish South East Asia Report - Week 26, published 27th June 2022. This is a weekly subscription report analysing production, flats, longs, semis, and raw materials for the region. 

  • Flats: The Vietnamese hot rolled coil market continues to descend without any signs of support. Traders are still short selling Chinese-origin material at prices which are more competitive than local material.
  • Longs: The East Asian rebar import market remains under pressure amid negative sentiment in the region. Two 20,000t forward contracts for actual-weight rebar were heard to have transacted for the Hong Kong market at $668/t cfr.
  • Semis: The ASEAN billet import market continues to weaken. Certain traders are heard to be actively driving down the market with low-priced offers. 
  • Raw Materials: The Taiwanese scrap market has fallen rapidly on negative expectations, with local buyers taking advantage of the opportunity to close deals at low prices. Kallanish assessed HMS 1&2 80:20 container scrap at $400/t cfr Taiwan, down $40/t on-week.

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