Flats: Vietnam’s hot-rolled coil (HRC) market experienced significant turbulence in February, driven by weak demand, market uncertainty, and the impact of newly imposed anti-dumping duties on Chinese imports.  

Longs: The Southeast Asian rebar import market remained sluggish throughout February, as ongoing uncertainty and weak demand prompted buyers to delay purchases.

Semis: The ASEAN billet import market showed signs of strength in February, but regional buyers remained hesitant, limiting transaction volumes.

BF Raw Materials: Seaborne iron ore prices remained steady in early February as market activity slowed due to holiday-related slumps, but sentiment weakened following US President Donald Trump’s tariff announcement. The decision to impose a 25% tariff on all steel and aluminum imports has escalated global trade tensions, putting renewed pressure on industrial metals, including iron ore. Market participants warn that the policy shift could dampen global steel demand, further weighing on raw material prices.

EAF Raw Materials: The Kanto Tetsugen monthly Japanese scrap export tender on 12 February saw prices fall from January. In the tender, Nippon Steel Trading was awarded 15,000t of Japanese H2 grade scrap for shipment by 31 March at JPY 43,200/t ($281) fas, or about $288/t fob Japan. The award price is JPY 1,610/t lower than the tender held on 10 January. The tender attracted a total of eighteen bids amounting to 135,900t. In dollar terms, the latest Kanto award price was $3/t lower versus January’s award price of $284/t fas. The cargo for the 12 February tender is expected to be shipped to Vietnam or Bangladesh. Meanwhile, Tokyo Steel has maintained its H2 purchase price at the Utsunomiya works at JPY 40,000/t. It previously lowered its purchase price from JPY 41,000/t, effective 24 January.

Country Trade Data:

• Singapore
• Thailand
• Philippines
• Malaysia
• Indonesia
• Vietnam

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