Ramadan, import tariff change cool down Southeast Asia billet market

Southeast Asia’s steel billet import market quietened down over the past week as buyers from the region’s two biggest consumers – the Philippines and Indonesia – refrained from closing deals.

Business in Indonesia has slowed down with the start of the Islamic fasting month of Ramadan last weekend. Meanwhile, in the Philippines, importers are waiting for import duties for billet from a number of countries to fall to zero from the current 3%.
Metal Bulletin’s assessment of prices for billet imports in Southeast Asia was $415-425 per tonne cfr for the week ended Monday May 29, up $10 per tonne from $405-415 per tonne cfr in the preceding week.

The price increase came as a...

Published

Juan Weik

May 30, 2017

12:17 GMT

Singapore