Southeast Asian billet import prices stable despite falling scrap prices, weak buying interest

Prices in Southeast Asia’s steel billet market were unchanged on Friday May 10 despite declining scrap prices and weak buying interest in the region.

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,...

Published

Lee Ken Kiat

May 10, 2019

10:30 GMT

Singapore