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Kallanish South East Asia Steel Markets Report - Week 29 (July 18, 2022)

Read the Kallanish South East Asia Report - Week 29, published 18th July 2022. This is a weekly subscription report analysing production, flats, longs, semis, and raw materials for the region. 

  • Flats: An alarming plunge in the Chinese steel market last Friday has caused Vietnamese hot rolled coil to sink to new recent lows. The commercial-grade HRC import market in Vietnam sunk by around 10% at the end of last week.
  • Longs: The rebar import markets in Singapore and Hong Kong remain quiet and sluggish. Limited supply of imports appears to be lending price support despite poor market sentiment for long products in the region.
  • Semis: The Philippine billet import market continues to be weak. The persistent plunge in China’s steel markets is spreading negativity in the ASEAN region.
  • Raw Materials: The recent Kanto Tetsugen export tender reflects the downtrend in the market over the past month. The Kanto Tetsugen Cooperative Association awarded 25,000t in its 12 July export tender at an average of JPY 44,554/t ($325/t) fas. 

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