Metal Bulletin’s assessment of import prices for billet in Southeast Asia was $560-570 per tonne cfr for the week ended Monday March 19, down $5 per tonne cfr from a week earlier.
Buyers in the Philippines booked Chinese cargoes at $563-568 per tonne cfr, sources said.
An order for billet from a major South Korean supplier was also heard to have been placed at around $550 per tonne fob to the Philippines, which is equivalent to around $560-570 per tonne cfr Manila.
A cargo of Chinese materials was said to have been sold at $550 per tonne cfr to the Philippines, but this could not be confirmed and was excluded from Metal Bulletin’s assessment.
Indonesian buyers still did not make any bookings for a third consecutive week, because they could not agree to the offer prices due to Indonesia’s persistently weak domestic rebar market.
Not many cargoes were sold to Southeast Asia over the...