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South East Asia Steel Markets Report - Week 41 (Oct. 13, 2021)

Read the Kallanish South East Asia Report - Week 41, published 13th October 2021. This is a weekly subscription report analysing production, flats, longs, semis, and raw materials for the region. Additionally, the production section includes brand new data series monitoring hot metal production activity in the region at the blast furnace level.

  • Production: Hot metal output across Southeast Asia held steady overall in the first week of October after a recovery starting at the end of September.
  • Flats: Exporters of hot rolled coil to Vietnam are bullish and have largely hiked offers. Importers continue to be bearish and are not keen to book, meanwhile, suggesting the market has bottomed.
  • Longs: Rebar import markets in Singapore and Hong Kong have been quiet. While rebar demand remains sluggish, import prices are rising on gains in scrap. 
  • Semis: Suppliers have raised export prices in ASEAN in tandem with firming scrap. They are optimistic that regional demand will rebound with the gradual easing of Covid-19 distancing restrictions.
  • Raw Materials: The Taiwanese scrap market remains stable, with steel mills attempting to promote transactions by maintaining prices.