Metal Bulletin’s assessment of import prices for billet in Southeast Asia was $535-545 per tonne cfr for the week ended Monday April 16, unchanged from a week earlier.
Deals involving cargoes from the Commonwealth of Independent States and South Korea were booked at around $545 per tonne cfr to the Philippines, regional sources said.
Russian billet was offered around $550 per tonne cfr while offers for South Korean materials were heard around $545 per tonne cfr. Taiwanese offers came in at $565 per tonne cfr Manila, but buyers found them too expensive to accept, traders said.
May-shipment cargoes from Brazil were heard offered at $540-545 per tonne cfr.
Some participants said it was surprising to see Brazilian mills offering billet to Asia instead of producing slab for North America, where demand for the latter is strong. Brazil is exporting slab at high prices to the United States because...