Asia steel billet prices rise again but China momentum slows in late week

The price of steel billet sold to China increased again over the seven days to Friday April 9, stalling by the end of the week due to higher domestic billet supply to Tangshan, sources said.

More sales of steel billet imported to China booked at the end of last week from Asean-origin sellers came to light during the start of this week.
Cargoes from both Indonesia and Malaysia of 3sp blast furnace (BF) billet came were reported this week at $660 per tonne cfr China. Offers from Asean producers then rose to $670-675 per tonne cfr, but no new sales were heard at this level at the time of publication.
A tender for Indian BF billet was heard closed at $592.50 per tonne fob earlier this week, with a deal for 30,000 tonnes of Indian BF billet heard transacted at $645 per tonne cfr China to Jiangyin port.

Offers for Turkish billet were heard at $645 per tonne cfr China during the week,...

Published

Lee Allen

Jessica Zong

April 09, 2021

12:21 GMT

Singapore