Southeast Asian billet weakens gradually on thin demand

Import prices for steel billet in Southeast Asia edged down on Thursday September 27, amid low domestic prices of finished long steel and the sustained weakness in the region’s currencies.

Metal Bulletin’s daily assessment of import prices for billet in Southeast Asia was $522-530 per tonne cfr Manila on Thursday, widening downward by $3 per tonne from $525-530 per tonne cfr on Wednesday.
Trading activity from Friday onward showed a mild improvement compared to the previous week, when the market was deadlocked from the wide bid-offer spread.
A deal involving a large volume of Ukrainian billet was concluded on Friday to an Indonesian re-roller at $517-520 per tonne cfr Indonesia.
Thai buyers booked Turkish material at around $520 per tonne cfr Thailand, and Russian billet at $515-520 per tonne cfr Thailand.

Published

Fiona Lam

September 27, 2018

12:10 GMT

Singapore