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.