China pays higher prices for steel billet; SE Asia markets muted

Prices for steel billet cargoes imported to China have risen further during the week to Friday March 5 following fresh deals at higher levels, market participants told Fastmarkets.

Fastmarkets’ price assessment for steel billet, import, cfr China was $600-622 per tonne on Friday, up by $19-25 per tonne from $575-603 per tonne a week earlier.
Indonesia-origin blast furnace (BF) 3sp billet was sold at the start of the week at $600 per tonne cfr China, with a deal heard later in the week at $620-622 per tonne cfr.
Vietnam-origin BF billet was sold at $593 per tonne fob late on Thursday, which sources said would equate to around $613-614 per tonne cfr following the addition of freight costs. This is up from deals for Vietnamese BF billet closed at $580 and $582-583 per tonne fob late last week.

Prices for non-Asean-origin billet, which incur a 2% import duty on shipment to China, also increased this week. A tender for India-origin...

Published

Lee Allen

March 05, 2021

11:32 GMT

Singapore