Metal Bulletin’s assessment of import prices for billet in Southeast Asia was $545-555 per tonne cfr for the week ended Monday June 4, unchanged from a week earlier
Billet from Central Asia were heard sold to the Philippines at around $550-555 per tonne cfr.
One trader based in Southeast Asia said that a proportion of the cargoes booked could possibly have been re-exported from Vietnam.
No other deals were reported over the past week, which saw a drop in the number of offers that was partially attributed to an improvement in domestic prices in China, according to market participants.
Few mills were also in the market because most of them had likely sold out the materials they allocated for shipment in July, a South Korea-based trader said.
“Buyers don’t have many options available, especially with the uncertainty surrounding...