Metal Bulletin’s assessment of import prices for billet in Southeast Asia was $547-556 per tonne cfr for the week ended Monday May 21, down $3-4 per tonne from a week earlier
Large shipments of Saudi Arabian cargoes were booked by a Filipino re-roller at $547-548 per tonne cfr, sources said.
Deals involving Russian and Japanese billet were also heard concluded at $550-555 per tonne cfr to the Philippines.
“These bookings are putting a cap on prices at the moment,” a Vietnam-based trader said.
Offers for ArcelorMittal billet were heard in...