- Flats - Vietnam's import market for commercial-grade hot-rolled coil began to bottom out and rebounded in the final month of 2022, led by China's steel market recovery.
- Longs - The Southeast Asian rebar import market weakened at the end of December due to the year-end holiday. Offer prices for imported rebar to Singapore and Hong Kong remain firm amid a quiet market. Malaysian theoretical-weight rebar is offered in the last week of December at $610-615/t delivered to Singapore, up from $600-610/t a week before.
- Semis - The Southeast Asian billet market saw offers boosted by improving sentiment in the Chinese market, but faster-than-expected market gains left buyers hesitant in the first half of December.
- Raw Materials - In Vietnam, Japanese H2 scrap is offered at around $385-390/t cfr in mid-December. "I heard that certain mills received offers but they are not yet ready to buy," a Vietnamese trader says. He notes that container HMS 1&2 80:20 from the USA is offered at $355-365/t cfr, whereas bids are lower at $350/t cfr. Another hears bulk 80:20 scrap is now offered at about $410-420/t cfr.
Production: Steel mills in Southeast Asia cut output in November amid weak regional demand. However, as the Chinese steel market rebounded due to the lifting of Covid-19 controls, Southeast Asian steel prices are gradually recovering, and regional steel mills have begun to increase production.
- Hoa Phat Dung Quat
- Formosa Ha Tinh
- Alliance Steel
- PT Dexin Mill
- Posco Krakatau
- Hoa Phat Hai Duong
- Eastern Steel Malaysia
Country Trade Data:
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Very good overview of the weekly steel market.