Asian billet buyers book at higher prices but China disappears

Buyers in the Philippines, Malaysia and Thailand have been in the market for imports of steel billet at higher prices over the week despite China’s continued absence, sources told Fastmarkets on Wednesday September 16.

Chinese billet buying behavior has often informed decisions at mills in Southeast Asia this year but China’s reticence to make further bookings has been met with a handful of transactions across the region over the last week, sources said.
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 $450-455 per tonne on September 16, narrower than $445-455 per tonne day on day and $5 wider than $450 per tonne week on week.

A deal for 20,000 tonnes of Indonesian blast furnace (BF) billet was heard booked to Malaysia at $452-453...

Published

Lee Allen

September 16, 2020

15:08 GMT

Singapore