Offers for imported billet have increased further in Taiwan amid suppliers' continued bullishness and the positive situation in China, though scrap prices in the country have not followed the same trend, at least for now.
Offers for billet from Russia’s Far East region have been reported at $620/mt CFR Taiwan, up by $20/mt from deals done early this week. Russian suppliers are not in a rush to sell, and so they can offer at higher levels. The bids are still at $600/mt CFR mainly.
“The market is rising rapidly, so buyers may consider buying within some time,” a source said. Traders have been offering ex-ASEAN billet at $640-650/mt CFR and this level has been called reasonable as mills have been asking for up to $655-665/mt CFR.
