Southeast Asia steel billet prices rebound on bullish sentiment

Billet import prices in Southeast Asia rebounded over the past week as buying interest improved and suppliers withdrew low offers in the expectation of further price gains.

Metal Bulletin’s weekly price assessment for billet imports in Southeast Asia was $495-500 per tonne cfr on Monday November 27, up $10-15 per tonne cfr from the previous week.
Steel mills had initially offered cargoes at the previous week’s prices, but withdrew them from the spot market towards the end of the week as downstream rebar prices rose in the Asian physical and futures markets.

Cargoes from the Middle East and the CIS region were being offered in the spot...

Published

Paul Lim

November 27, 2017

10:01 GMT

Singapore