Southeast Asian billet import prices fall after lower offers from India

Prices in Southeast Asia’s steel billet market declined on Friday August 23 after Indian producers reduced their offer prices, although buying interest remained weak.

“Buyers in the Philippines are expecting prices to fall further and have [so far] resisted the lower offers because [off poor demand and low prices in] the domestic long steel market,” a trader in the Philippines said. “However, market activity will pick up in the upcoming months when negotiations for November- and December-shipment cargoes begin because buyers have to begin their preparations for next year,” he added. Steel billet produced in India using blast furnaces was on offer at $435-450 per tonne cfr Manila, $430-440 per tonne cfr Indonesia and $435-440 per tonne...

Published

Lee Ken Kiat

August 23, 2019

11:04 GMT

Singapore