Markets Report: 

• Flats - Vietnam’s import market for commercial-grade hot-rolled coil was disrupted by holidays in January. The market was looking forward to the strong momentum brought by China's recovery.
• Longs - The Southeast Asian rebar import market was rising because of suppliers' bullish expectations in January. Spot market transactions were boosted in the first 20 days of last month in tandem with positive sentiment surrounding the Chinese steel market.
• Semis - The Philippine billet import market has seen a pick-up in spot buying activity in January. This was surprising because it took place when Philippine buyers are usually on their year-end holiday. Billet suppliers are bullish because they anticipate a Chinese steel demand rebound amid Beijing's support measures to stimulate home demand.
• Raw Materials - In Vietnam, tight credit measures continue to adversely affect the steel industry. Japanese scrap export prices have risen in the latest Kanto Tetsugen monthly export tender. 

Production:  Hot metal output in Southeast Asia has seen a contrast between different countries at the beginning of 2023. Vietnamese mills are struggling from the negative impact of weak demand on output, while Malaysian mills are still operating at a loss. The performance of Indonesian steel mills is relatively stable, and the end of the Lunar New Year is expected to stimulate demand in the regional market.

Mill Data: 

• Hoa Phat Dung Quat
• Formosa Ha Tinh
• Alliance Steel
• PT Dexin Mill
• Posco Krakatau
• Hoa Phat Hai Duong
• Eastern Steel Malaysia

Country Trade Data:

• Singapore
• Indonesia
• Thailand
• Malaysia
• Philippines

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