Southeast Asia billet prices jump as Philippines buyers begin restocking

Import prices for steel billet in Southeast Asia have spiked in recent days as buyers from the Philippines finally started to book cargoes after several weeks of very low trading activity.

Up to four different deals have been heard concluded in the Philippines since Friday June 16, all at prices close to $435 per tonne cfr, sources in the Philippines and other Asian countries told Metal Bulletin on Tuesday June 27.
One of the deals was for 25,000 tonnes of 130mm billet from India, on offer at around $435 per tonne cfr into the Philippines.

The cargo was...

Published

Juan Weik

June 27, 2017

13:17 GMT

Singapore