Southeast Asia import billet market quiet because of holidays, price uncertainty

Buying activity in Southeast Asia import billet market was largely modest in the week ended Monday September 4, with some potential customers celebrating the Islamic Eid al-Adha holiday, and others waiting for price trend clarity in China.

Chinese domestic billet prices were 3,760 yuan ($575) per tonne at 3pm on September 1, 20 yuan per tonne lower than the previous Friday.
Expectations in the market about future price movements were divided.
Some participants forecast a price rise because of the consequences of a fire at one of the country’s long steel rolling mills, Benxi Iron & Steel, and air-pollution inspections in northern China.

But other sources were bearish...


Vlada Novokreshchenova

September 05, 2017

14:08 GMT