Fears of defaults emerge again in Southeast Asia billet import market

Participants in Southeast Asia’s billet import market have begun to hear of renewed talks about potential defaults or contract renegotiations as Chinese offer prices moved up this week.

Steel First’s billet import price assessment for the region was $315-325 per tonne cfr for the week ending Monday July 25, down by $10-15 from the preceding week’s $330-335 per tonne cfr.

A series of bookings were closed last week in countries including the Philippines, Thailand and Indonesia, as the market seemed to have reached a turning point, with prices moving down in line with a weaker market in China’s...


Juan Weik

July 27, 2016

12:30 GMT