Buyers stay put as Southeast Asia billet import prices hit 5-month low

Southeast Asian billet importers remained mostly inactive over the past week as prices fell to their lowest level since the end of November 2016.

Metal Bulletin’s price assessment for billet imports in Southeast Asia was $390-400 per tonne cfr for the week ending Monday April 24, a plunge of $10-20 per tonne from the $400-420 per tonne cfr in the preceding week.
The short selling pressure from Chinese traders seen in recent weeks has continued to affect market sentiment, with limited buying activity heard across Southeast Asia.
However, a rebound in domestic prices in China’s Tangshan area, in the north east of Hebei province, on Tuesday, brought some slight optimism to traders who have been trying to get firm bids from customers in the region.
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Published

Juan Weik

April 25, 2017

12:50 GMT

Singapore