According to market sources, buyers in the Philippines concluded deals for Japanese billet last week in the range of $550-555/mt CFR. In the same period, Filipino buyers purchased billet from Saudi Arabia at $547-548/mt CFR and from Russia at $550-555/mt CFR.
Additionally, billet offers from Thailand to the Philippines were at $560-565/mt CFR last week, while an ex-India 125 mm billet cargo was offered to the same destination at $558/mt CFR. In the meantime, Chinese billet offers to the country in question were at around $550/mt FOB.