Billet market loses pace in Southeast Asia

Having moved on a strong trend over the last two months, the billet market in Southeast Asia seem to have gained stability for now, with buyers preferring to remain in wait-and-see mode. The most recent billet deals for the Philippines market were concluded at around $580-585/mt CFR, and due to the slack demand the acceptable price in this market currently appears to be in the range of $550-560/mt CFR. Also, bids from buyers in Indonesia have been heard for CIS origin billets at around $570/mt CFR FO; however no actual bookings have materialized.