Southeast Asian billet import prices unchanged despite uptick in trading activity, falling scrap prices

Prices in Southeast Asia’s steel billet market were stable on Friday April 12 despite improved trading activity and falling scrap prices ahead of the general elections in the Philippines and Indonesia.

Fastmarkets MB’s daily import price assessment for billet in Southeast Asia was $470-475 per tonne cfr Manila on Friday, unchanged from the previous day. 
Last Friday’s prices were $5 per tonne higher at $475-480 per tonne cfr. Billet prices had gradually inched down since hitting a 2019 peak of $485-495 per tonne on March 15.
Trading activity in the region has picked up with softer scrap prices failing to dampen Filipino buyers’ interest in securing billet that would be delivered after the elections on May 13.

Billet...

Published

Lee Ken Kiat

April 12, 2019

12:06 GMT

Singapore