Asian Hot Rolls Continue To Fall

 Last week, affected by the futures market, Asian hot coil prices continued to fall. The current price of SS400 (3mm) hot coils in Southeast Asia is US$520/ton CFR Southeast Asia, a week-on-week decrease of US$5/ton. However, compared with other varieties, the demand for SS400 hot coils Not high. Quotes for Q235/Q235B dropped by nearly US$15/ton within a week.

The market generally reflected poor demand, mainly due to concerns about the potential for further declines in the market. Similarly, the price of Q195 (3mm) also dropped by about US$15/ton within a week to US$510/ton CFR Vietnam, and the actual transaction is expected to be lower. SAE1006 (3mm) has dropped by about US$10/ton in the past week to US$545/ton CFR. Judging from the market, there is still sufficient hot coil inventory downstream. Therefore, they are willing to spend some time waiting for hot coil prices to drop further and are still buying in small quantities.

Similarly, the price of hot coil in India is also showing a downward trend. The price of IS2062 (2.5-10mm) hot coil (excluding 18% value-added tax) is US$623.77/ton EXW Mumbai. It is still affected by the general election and demand is expected in early April. There will be some recovery.