Southeast Asia’s billet prices fall amid cheaper Chinese cargoes

Import prices for billet in Southeast Asia dipped further over the past week amid lower offers from China, while those for slab declined on thin trading.

Billet Metal Bulletin’s assessment of import prices for billet in Southeast Asia was $535-545 per tonne cfr for the week ended Monday April 9, down $5 per tonne from a week earlier. Deals involving Middle Eastern billet were concluded to Indonesia at $545 per tonne cfr, while China-origin cargoes were booked by buyers in the Philippines at the same price, sources said. “It’s surprising to hear bookings for Chinese materials in the Philippines,” a South Korea-based trader said. Buyers in Southeast Asia have been wary of buying from China due to fears of non-delivery. Most transactions heard over the past week involved Chinese cargoes. China was on holiday last Thursday and Friday for the Qingming Festival, or tomb-sweeping day, which slowed the market down. Suppliers in other countries were waiting for Chinese mills to return on Monday before offering their cargoes, traders said. “We expect sellers...

Published

Fiona Lam

April 10, 2018

06:36 GMT

Singapore