Metal Bulletin’s price assessment for billet imports in Southeast Asia was $530-544 per tonne cfr for the week to Monday, compared with $520-525 per tonne cfr a week earlier
This was despite widespread expectations of a downward correction that stemmed from a resumption of billet shipments from China and ample stockpiles built up by buyers
in some of the region’s markets in recent weeks.
Buying activity was mainly concentrated in Indonesia last week, where a number of deals were reported to have been concluded at $540-544 per tonne cfr.
Two cargoes originating from Vietnam and China were heard sold at $544 per tonne cfr.