Southeast Asian billet import prices fall on lower offers, soft demand

Prices in Southeast Asia’s steel billet market declined on July 19 because of lower offers caused by a lack of demand amid the ongoing rainy season in the region’s major import market of The Philippines.

Although producers lowered their offer prices, Southeast Asian buyers remained on the sidelines due to expectations that prices could fall further, market sources said.  Billet from Japan was on offer at $453-455 per tonne cfr Manila, while cargoes from Russia were available at $455 per tonne cfr Manila. Suppliers in India...

Published

Lee Ken Kiat

July 19, 2019

11:45 GMT

Singapore