Asian hot-rolled coil prices were largely stable amid a prevailing wait-and-see sentiment ahead of China’s Central Economic Work Conference.

Platts assessed SS400 HRC of 3 mm thickness at $456/mt FOB China Dec. 3, unchanged day over day. The same grade was assessed at $460/mt CFR Southeast Asia, unchanged over the same period.

Export offers remained steady at over $465/mt FOB China, with most mills maintaining their offers amid subdued market activity.

A mainstream mill source said seller’s tradable levels were at $465/mt FOB, down $15/mt from its official offers.

An eastern China-based trader said prices were largely steady, adding there was no significant driver for major price movements at this time.

The most actively traded January HRC contract on the Shanghai Futures Exchange closed at Yuan 3,319/mt on Dec. 3, down Yuan 6/mt, or 0.2% day over day.

Platts assessed the spot price of Q235B 5.75 mm HRC at Yuan 3,310/mt ($469/mt) ex-stock Shanghai on Dec. 3, including value added tax, down Yuan 10/mt day over day.

In Southeast Asia, offers for wider-width Q235 HRC from China were heard at $475-$480/mt CFR Vietnam for December shipment.

In the SAE1006 segment, offers for Indian 30% 2 mm coils were steady at $485-$490/mt CFR Vietnam.

Indonesian 3 mm-thick offers were also unchanged at $495/mt CFR Ho Chi Minh and $497/mt CFR Hai Phong, or at $488-$490/mt CFR for 30,000 mt.

Mills were not in a hurry to sell at the start of the month, with February allocations nearly completed and sales gradually shifting toward March shipments, according to an Indonesian mill source.

The source added that Hoa Phat’s pricing remained highly competitive this month, while supply continued to outpace demand in the Vietnamese market.

Platts assessed SAE1006 HRC at $470/mt FOB China on Dec.3, unchanged day over day. The same grade of coil was up $2/mt over the same period at $483/mt CFR Southeast Asia.