Southeast Asian billet prices rise on thin supply, costly scrap

Import prices for steel billet in Southeast Asia staged a slight recovery this week amid limited offers and Turkey's strengthening scrap market, although participants reckon that the billet gains might be short-lived because they were not supported by demand.

Fastmarkets’ daily import price assessment for billet in Southeast Asia was $450-455 per tonne cfr Manila on Thursday January 24, narrowing upward by $5 per tonne from $445-455 per tonne cfr the previous day. Two small shipments of Malaysia-origin billet were sold to re-rollers in the Philippines and Vietnam this week, both at around $450 per tonne cfr. A major mill from the Commonwealth of Independent States (CIS) sold two cargoes this week, one at $450 per tonne cfr Manila and the other at $440 per tonne cfr Thailand, one Thai...

Published

Fiona Lam

January 24, 2019

12:00 GMT

Singapore