Malaysian billet and wire rod prices among most competitive in Southeast Asia

Thursday, 08 August 2019 14:34:46 (GMT+3)   |   Istanbul
       

Malaysian billet and wire rod prices have declined this week and become the most competitive in Southeast Asia. Malaysian billet offers are voiced at $446/mt CFR Philippines today, August 8, while Indian billets are available at $448/mt CFR and Russian billets are at $447-500/mt CFR, both to the Philippines, SteelOrbis has been informed. Last week, the lowest level of offers to the Philippines from major suppliers was $450/mt CFR.

Though there are low offers for Malaysian-origin billet, most market participants doubt that Alliance Steel, the largest exporter in the country, has become very aggressive. “I don’t think its fresh production billet. Seems those cargoes had been meant for shipment to China. Now steel prices are coming down, so all customers are diverting,” an international trader said.

In the wire rod market, Malaysian-origin products have been offered at $500/mt CFR this week, while some traders can negotiate at even $490-495/mt CFR in the Philippines. At the same time, customers are cautious, trying to get even better prices, as Chinese exporters are expected to become aggressive in the near future. Chinese wire rods have been offered to Southeast Asia at $520/mt CFR Philippines, while bids have not been above $500/mt CFR. 


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