Metal Bulletin’s assessment of import prices for billet in Southeast Asia was $540-550 per tonne cfr for the week ended Monday April 2, down $10-15 per tonne from a week earlier
Market participants said they did not hear of any bookings for billet during the past week, attributing the quieter market to the long Easter weekend in some parts of the region and a bid-offer spread that was too large.
“Trading activity should pick up from Tuesday onward,” an Indonesia-based trader said.
Offers for billet from the Commonwealth of Independent States came in within $555-560 per tonne cfr. But buyers did not accept those levels because there were lower offers in the market, particularly from China, a trader in East Asia said.
Middle Eastern cargoes were heard offered at $525 per tonne fob, which is equivalent to $545-550 per tonne cfr Southeast Asia.
Chinese cargoes were heard offered...