Southeast Asian steel billet import prices fall despite scrap upswing

Prices in Southeast Asia’s steel billet market fell on Thursday October 10 due to lower offers from Indian steelmakers and despite an increase in ferrous scrap import prices in the bellwether Turkish market, sources told Fastmarkets.

“Indian mills have remained aggressive in the export market because of weak domestic demand,” an Indian trader said. Billet from India was offered at $392-395 per tonne cfr Southeast Asia. Producers in the Commonwealth of Independent States, however, raised their billet prices in response to a jump in Turkish ferrous scrap import prices, a trader in East Asia...

Published

Lee Ken Kiat

October 10, 2019

11:42 GMT

Singapore