Rallying futures leave Asian HRC market seeking direction

摘要

Spot prices for Asian hot-rolled coil were stable Monday as market participants were in a wait-and-see mode after the surge in Chinese steel futures. S&P Global Platts assessed SS400 HRC 3 mm thick unchanged from last Friday at $584-$586/mt FOB China Monday, with the midpoint at $585/mt. On a CFR Southeast Asia basis, the same grade of coil was assessed at $584-$586/mt, with a midpoint of $585/mt, also flat from last Friday. A major eastern China mill offered commercial grade coil at $605/mt and the same grade sheet at $595-$600/mt FOB China for end-June shipment. Many Chinese mills that were expected to release export offers later in the week told Platts their offers would definitely increase from last week.