Prices for imported billet in Southeast Asia have remained stable this week after the sharp increase reported last week, but they have remained too high for most importers who have been bidding at levels $10-15/mt lower, SteelOrbis has learned from the market on June 15.
Most offers from traders for ex-ASEAN and ex-China billets are still at $530-535/mt CFR and mills have been asking for up to $540/mt CFR Manila. One deal for ex-Vietnam IF billet has been rumored at $525/mt CFR the Philippines, though this could not be confirmed by the time of publication, with most market sources assessing this level as being too high for customers. “Buyers are still rather quiet and offers are high. I think buyers in the Philippines are targeting $515-520/mt CFR Manila for 5SP,” a trader said.
Ex-Iran offers from traders have been reported at $520-525/mt CFR to Indonesia and Thailand, with no deals done. Local IF billet prices in Thailand have been priced at the equivalent to $494/mt CFR, making buyers reluctant to open any negotiations for import material.