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
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...