Southeast Asian billet import market sees improved demand

 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.