Southeast Asian billet import prices pushed lower by weather concerns, limited trading

Prices in Southeast Asia’s steel billet market drifted lower on Friday June 14 because market participants in the Philippines were cautious about making any bookings ahead of the forthcoming rainy season, while trading activity in Indonesia had yet to resume fully after the Eid al-Fitr religious holiday.

Market participants in Southeast Asia were also concerned about the bearish outlook for prices in the upstream scrap market, which they expect to decline further. Fastmarkets’ daily import price assessment for billet in Southeast Asia was $450-460 per tonne cfr Manila on June 14, widening downward by $5 per tonne from the previous day and wider by $5 per tonne on both ends from Friday of last week. One shipment of Malaysian billet...

Published

Lee Ken Kiat

June 14, 2019

12:32 GMT

Singapore