Southeast Asia’s billet, slab prices down on soft demand

Import prices for steel billet in Southeast Asia fell slightly over the past week on weak buying interest, while those for slab slumped amid lower offers and Indonesian market participants leaving for holidays.

Billet
Metal Bulletin’s assessment of import prices for billet in Southeast Asia was $545-550 per tonne cfr for the week ended Monday June 11, narrowing downward by $5 per tonne from a week earlier.
Cargoes from South Korea and Thailand were heard sold to the Philippines at $547-548 per tonne cfr.
Buyers in Thailand booked July-shipment cargoes from Iran at around $527-529 per tonne cfr, sources said early last week. Iranian prices are not included in Metal Bulletin’s assessment.
A Middle Eastern mill was heard to have put out a tender for 30,000 tonnes of its August-shipment billet last week, but the tender was later cancelled because of a production issue, market participants said on Monday.

An Indian mill sold 130mm billet to an Asia-based trader at...

Published

Fiona Lam

June 12, 2018

06:58 GMT

Singapore