Most buyers in Southeast Asia are remaining on the sidelines awaiting a clearer price direction to emerge, a trader in the region said.
Fastmarkets MB’s daily import price assessment for billet in Southeast Asia was $455-460 per tonne cfr Manila on Friday, unchanged from the previous day.
Last Friday, the price was $5-10 per tonne higher at $460-470 per tonne cfr.
Market sources in Southeast Asia were expecting billet prices to fall further amid a downtrend in the cost of ferrous scrap.
Fastmarkets MB’s weekly import price assessment for HMS 1&2 (80:20) sold into Vietnam was $315-320 per tonne cfr on Friday,...