SE Asian market quiet on price volatility and demand concerns

摘要

Sheet market in Southeast Asia has undergone price volatility driven by fluctuating offers from China. Following the Chinese central ministries’ call for price discipline in the steel sector, Chinese steel prices rapidly dropped from their peak in May followed by modest rebounds. In the HR coil market, the range of offers has widened significantly as offers from China have decreased while offers from other exporters have remained elevated above the $1000 /t level. HR coil offers from Northeast Asia are easily at a $100 /t premium against the cheapest Chinese offers, followed by India. Aside from some position cargoes being sold at a discount in late May and early June, Indian offers remain stubbornly high on better domestic demand sentiment driven by reduced Covid-19 cases and subsequent easing of economic restrictions.