Stimulated by the increasing scrap prices, Asian hot rolled coil (HRC) prices have enjoyed a pick-up recently.
Japanese, South Korean and Chinese suppliers offer US$580~US$590/ton CFR for HRC to Gulf, up by US$20~US$30/ton from the previous price.
At present, the Japanese suppliers offered US$630~US$640/ton CFR for HRC with the thickness of 1.2mm to Gulf while the offer from South Africa stood at US$625/ton.
One trader said that some buyer purchased 6000 tons of 3mm HRC with the price of US$554/ton CFR from Iran. However, it is said that few buyers bought from Iran currently.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=61645&division=A2
