GLOBAL BILLET WRAP: Most markets retreat for festive break

Trading activity in the major global billet markets was reduced in the week ended Friday December 27 due to participants being away for the Christmas and New Year festive season.

Southeast Asia
“It is likely that market activity will resume only after the New Year holiday and the market is very quiet now,” a buyer source in Southeast Asia said.
Offers of billet from Russia, India, Oman and Qatar were coming at $448-460 per tonne cfr Southeast Asia last week while market participants estimated that the tradeable price at $445-448 per tonne cfr.
“Everyone is already in a festive mood and there are limited negotiations ongoing,” a trader in Thailand said.
An Indonesia-based trader said that buyers are not interested in booking any material during the festive season even though prices could rise further in January 2020.
CIS, Egypt

The billet market in the Commonwealth of Independent States was also quiet last...

Published

Vlada Novokreshchenova

December 30, 2019

16:10 GMT

Dnepr