Due to improved demand,
Southeast Asia's
billet import market has seen a recovery. About 10 days ago,
Thailand imported 40,000 mt of steel billets from
Russia at $675/mt CFR.
The latest prices of
billet from South Korea to the
Philippines are being quoted at $690-695/mt CFR, while some mills are seeking to export at $670/mt FOB. Meanwhile, with insufficient
billet supply and low inventory in the domestic market,
Thailand's rolling mills have turned increasingly to the import market.
In Indonesia, due to the approach of Ramadan,
billet purchase activities have slowed down and the local rebar market is sluggish. One domestic producer said that average import prices are at $650/mt CFR. Meanwhile, Vietnam's
billet import market is still characterized by poor demand.