Metal Bulletin’s assessment of import prices for billet in Southeast Asia was $550-560 per tonne cfr for the week ended Monday May 14, narrowing upward by $5 per tonne from a week earlier.
Deals involving billet from Thailand and Vietnam were heard concluded at $553-558 per tonne cfr Philippines.
Most offers for cargoes of various origin were at $555-565 per tonne cfr, though those from Taiwan were at $570-575 per tonne cfr.
Trading activity in Southeast Asia was thin during the week because market participants were mostly taking a wait-and-see approach following recent price fluctuations in China, traders said.
Some Filipino buyers also appeared to have secured all the cargoes they need for July and thus were not looking to procure more materials, a trader in South Korea said....