Metal Bulletin’s assessment of import prices for billet in Southeast Asia was $565-575 per tonne cfr for the week ended Monday March 12, narrowing upward by $5 per tonne from $560-575 per tonne cfr a week earlier
Transactions involving cargoes from the Commonwealth of Independent States and the Middle East were heard to have been concluded at $570-575 per tonne cfr to the Philippines. An order for China-origin billet was heard to have been placed at $565 per tonne cfr Manila.
Indonesian buyers still did not make any bookings much like a week earlier because they found the offer prices too high for them to accept amid a weak domestic market for finished steel products, sources said.
“We’re just waiting for prices to come down,” a major Indonesian billet re-roller source said.
Buyers in the...