Southeast Asian billet market down on low bids despite increased activity

The import price for steel billet in Southeast Asia edged down on Thursday January 17 amid lower bids from buyers who expect further price drops, although trading activity has picked up in the region this week.

Fastmarkets’ daily import price assessment for billet in Southeast Asia was $445-448 per tonne cfr Manila on Thursday, narrowing downward by $2 per tonne on the high end from $445-450 per tonne cfr on Wednesday. Deals involving cargoes from Ukraine and the Russian Far East were concluded at $446-448 per tonne cfr to the Philippines this week. Thailand-origin billet produced from induction furnaces (IF) was booked at around $445-450 per tonne cfr to the Philippines. One 40,000-tonne cargo from Iran was sold at $415 per tonne cfr Thailand. Iranian prices are excluded from Fastmarkets’ assessment because they tend...

Published

Fiona Lam

January 17, 2019

10:35 GMT

Singapore