Southeast Asia's billet import prices rise amid new bookings

Southeast Asia’s billet import market continued to strengthen over the week ended Monday August 28 with bookings heard concluded at higher prices.

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.

According to...


Vlada Novokreshchenova

August 29, 2017

07:55 GMT