Last week, the Southeast Asia steel market showed regional divergence, with prices moving differently across countries due to raw material costs, local demand, and policy changes. Below is a detailed analysis:
Last week, the Southeast Asia steel market showed regional divergence, with prices moving differently across countries due to raw material costs, local demand, and policy changes. Below is a detailed analysis:
♦ Vietnam & Indonesia: Prices rose slightly (1-2%) due to strong infrastructure demand and higher import costs.
♦ Thailand & Malaysia: Prices remained stable, with minor discounts (0.5-1%) as mills managed inventory.
♦ Philippines: Hot-rolled coil prices dropped (~1.5%) due to competitive imports.
♦ Vietnam & Indonesia saw steady construction demand for rebar and wire rod.
♦ Thailand’s automotive sector boosted cold-rolled coil purchases.
♦ Philippines experienced slower construction activity due to monsoon season.
♦ Chinese export prices dipped slightly, keeping buyers cautious.
♦ Indian mills increased exports, adding pressure on regional HRC prices.
♦ Iron ore and coking coal prices fluctuated, squeezing mill margins.
♦ Indonesia is considering steel import tariff adjustments, which may impact supply.
Steel prices in Southeast Asia are likely to remain range-bound in the near term. However, Q4 demand recovery is anticipated as infrastructure and manufacturing sectors pick up. Buyers should monitor China and India’s export policies and regional economic stimulus measures.
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