Flats: Vietnam’s import market for commercial-grade hot-rolled coil saw transaction prices rise in December as China's steel market picked up. Chinese suppliers have been raising their offers as the iron ore market strengthens and sentiment in China stabilises.

Longs: The Southeast Asian rebar import market saw continuous gains in December, with buying interest weakening until the end of the month due to the holidays.

Semis: The ASEAN billet market saw prices rise slightly amid last month’s market volatility, with Southeast Asia seeing weaker trading activity amid the back-to-back holidays.

BF Raw Materials: Seaborne iron ore prices exhibited strength in December, driven by anticipated market replenishment. Despite signals from China’s National Development and Reform Commission (NDRC) and relevant authorities to curb speculation in the iron ore market early in the month, the resilience in steelmaking profits and firm blast furnace output provided a stable foundation for raw material prices. Although several steel mills were undergoing maintenance in mid-to-late December, the iron ore price trend remained robust, primarily due to the expected decline in production being offset by consistent restocking by Chinese steel mills.

EAF Raw Materials: In the latest tender, which opened on 8 December, 5,500t of Japanese H2 grade scrap for shipment by 31 January was awarded at JPY 51,020/t ($354/t) fas. This is JPY 782/t higher than last month’s award price of JPY 50,286/t, on 9 November. Hoei Trading is heard but not confirmed to be the winner, and the cargo is destined for either Taiwan or Vietnam, market sources said. Meanwhile, leading electric arc furnace operator Tokyo Steel lifted its scrap buying price by JPY 500/t at all steelworks and for all grades. Its H2 buying price will be raised to JPY 51,000/t at its Utsunomiya steelworks from 9 December.

Country Trade Data:

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

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