Southeast Asia’s billet prices edge down on softening demand

Import prices for steel billet in Southeast Asia fell slightly over the past week with demand in the Philippines starting to slow, while prices for slab in Southeast Asia and East Asia were stable in a quiet market.

Billet
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.

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Published

Fiona Lam

May 22, 2018

10:05 GMT

Singapore