Southeast Asia billet buyers stay on sidelines while China resumes booking

Prices for steel billet in Southeast Asia remained largely rangebound over the last week amid poor demand, but fresh bookings to China are likely to now push prices higher, sources told Fastmarkets.

Fastmarkets’ daily price assessment for steel billet, import, cfr Southeast Asia, which mainly looks at 120-150mm 5sp grade billet sold into the Philippines, was $435-440 per tonne on August 20, up from $430-435 per tonne cfr day on day and week on week.

Offers for blast furnace (BF) grade billet from India were heard at $440-445 per tonne cfr Manila on Thursday, while Vietnam-origin induction furnace (IF) billet is available below $435 per tonne cfr Manila for much of the week, sources said, adding that Japanese billet offer prices were around $450 per...

Published

Lee Allen

August 20, 2020

10:35 GMT

Singapore