SE Asian billet import prices plunge to 3.5-year low

Prices in Southeast Asia’s steel billet market plummeted to levels not seen since November 2016 in the past week, while countries in the region grappled with the fallout from the Covid-19 outbreak.

Fastmarkets’ daily price assessment for steel billet, import, cfr Southeast Asia, which mainly looks at 120-150mm 5sp grade billet sold into Manila, was $370-375 per tonne on April 3, narrowing downward by $5 per tonne from $370-380 per tonne the previous day.
The price is down $10 per tonne compared with $380-385 per tonne a week ago.
Russian billet shipped from ports in the country’s Far East was offered at $380-385 per tonne cfr Southeast Asia, while billet produced in India using blast furnaces was available at $385-390 per tonne cfr Southeast Asia.

“Buyers are unlikely to submit any bids until the government confirms that the virus control measures...

Published

Lee Ken Kiat

April 03, 2020

09:37 GMT

Singapore