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Kallanish South East Asia Steel Markets Report - Week 24 (June 13, 2022)

Read the Kallanish South East Asia Report - Week 24, published 13th 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 import market continues to be depressed. Some suppliers are lowering offers in a bid to entice buyers, but buying interest remains thin. “The Vietnamese market is very slow. No one is buying,” a trader says. 
  • Longs: The ASEAN import markets remained quiet last week. Regional suppliers of wire rod have hiked offers in Philippines despite sluggish demand. In Singapore, traders hear that a Middle Eastern supplier is aiming to push up prices.
  • Semis: The ASEAN billet import market was unmoved in the past two weeks. Suppliers have indicated that they want to hike prices, but buyers remain unconvinced that they need to pay more. 
  • Raw Materials: The Vietnamese market for containerised HMS scrap appears to have cooled after gaining some momentum. The market was already softening around midweek with most deals for containerised HMS 1/2 80:20 from the US taking place at $440/t cfr Cai Mep apart for one deal at $445/t cfr last Thursday.

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