Domestic Chinese HRC prices keep increasing since last Wednesday based on local producers’ trust in the direct & indirect effects of an increase in iron ore & governmental production limitation policies.
Idea export prices of HRC SAE 1006 ex China is being referred at usd/mt 525 FOB. This price level is too tough at this moment for ASEAN markets to absorb when the demand is rather slow due to sharp decrease in demand of processing & re-exporting of the main ASEAN re-rollers. Whereas, main markets such as Indonesia, Malaysia, Thailand and Vietnam are watching how the market will go on next days before making new purchase decision.
Taiwanese HRC mills are not in an urgent status of offering for Sept shipment orders, which may stemmed from their caution in this sensitive period. Idea prices of HRC SAE 1006 ex Taiwan should be around 530-540 CFR ASEAN.
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