Asia’s demand for H beam remained poor this week as huge construction projects such as the subway in Singapore, Indonesia’s Jakarta and artificial islands in Hong Kong were delayed due to technical issues.
Reportedly, Singapore offered the large sized and medium sized H beam for US$890/ton C&F and US$850/ton C&F.
Electric furnace mills such as Tokyo Steel quoted on the H beam at US$890/ton, dropped by US$30/ton, affected by the decreased scrap prices.
However, the blast furnace mills said that if the H beam prices were lower than US$900/ton, they would suffer from the loss due to the high costs of iron ore and coking coal