Southeast Asia's billet prices weaken further on downstream pessimism

Import prices for billet in Southeast Asia weakened further over the past week amid sustained bearishness in the downstream long steel markets.

Metal Bulletin’s weekly import price assessment for billet in Southeast Asia was $480-490 per tonne cfr on Monday November 20, down from $495-500 per tonne cfr a week earlier. Cargoes from the Middle Eastern and Russian mills were being offered in the spot market at $485-490 per tonne cfr into Southeast Asia. End-users were looking to buy at $470-475 per tonne cfr Southeast Asia but sources said this was not workable for anything apart from Iranian cargoes. Traders said that an Iran-origin shipment had changed hands at...

Published

Paul Lim

November 21, 2017

09:54 GMT

Singapore