Southeast Asian steel billet buyers start to accept costlier non-Chinese material

Steel billet import prices started to move up in Southeast Asia over the past week as more importers in the region began to believe that the firmness in the Chinese market might be here to stay.

Metal Bulletin’s price assessment for billet imports in Southeast Asia was $405-415 per tonne cfr for the week ending Monday May 22, up by $5 per tonne from $400-410 per tonne cfr in the preceding week.
Indonesia
In Indonesia, a 15,000-tonne cargo of 150mm billet from Russia was heard priced at less than $410 per tonne cfr last week, for shipment from Russian Far East ports.
Local rebar prices in the country have been hovering around $460-465 per tonne. As the total costs to convert billet to rebar are around $60 per tonne – including costs to unload cargoes at the port and transport them to the mills – most buyers continue to look at only $400-405 per tonne cfr for imported material, sources said.

“Rebar producers can’t afford to pay more than that,” one Jakarta-based trader...

Published

Juan Weik

May 24, 2017

12:47 GMT

Singapore