Metal Bulletin’s assessment of import prices for billet in Southeast Asia was $540-550 per tonne cfr for the week ended Monday July 23, the same as a week earlier
Japanese billet was heard booked at $546 per tonne cfr Philippines during the week.
A cargo of Indian billet produced using induction furnaces (IF) was also sold to the Philippines at $533 per tonne cfr. Prices for IF billet are not considered in Metal Bulletin’s assessment because they tend to be lower than mainstream market levels.
Offers from the Commonwealth of Independent States (CIS) stood at $547-548 per tonne cfr Philippines on Friday, although a lower offer of billet from the Black Sea region was heard on Monday at $545 per tonne cfr.
“But the delivery of Black Sea cargoes takes...