Flats: Vietnam’s import market for commercial-grade hot-rolled coil saw rapid price increases in November as downstream demand recovered and quotes from Chinese suppliers strengthened.

Longs: The Southeast Asian rebar import market saw offers continue to rise through November, but buyers are in no rush to place orders as they booked sufficient quantities when prices were lower.

Semis: The ASEAN billet market saw billet prices strengthen in November as the Chinese steel market rebounded. Induction furnace (IF) billets also took the opportunity to attract the attention of market participants due to their low prices.

Raw Materials: In the latest Kanto tender, which opened on 9 November, Itochu was awarded 15,000t of Japanese H2 grade scrap at JPY 50,286/t ($332/t) fas. The cargo is destined for Vietnam, market sources say. Okaya was awarded a further 3,000t at JPY 50,000/t. Okaya has not confirmed the destination of the smaller cargo, but market sources believe it could be headed to Taiwan because Taiwan usually imports such tonnages. The average price for the tender was JPY 50,238/t fas, which is only JPY 2/t higher than last month’s award price of JPY 50,236/t on 12 October. Meanwhile, leading electric arc furnace operator Tokyo Steel’s H2 buying price has been at JPY 50,500/t at its Utsunomiya steelworks since 1 November.

Country Trade Data:

• Singapore
• Thailand
• Philippines
• Malaysia
• Indonesia
• Vietnam

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