The gradual uptrend has been seen in the SE Asian import billet market, but most buyers have bene staying away from negotiations, especially after some deals were done at lower levels in earlier weeks. Among all origins, ex-Iran offers have been among the lowest.
A deal for Asian origin 5SP has been reported to the Philippines at $455/mt CFR by a trader. But a number of market sources have said that this deal is an old one done late last week. At the moment, the lowest offers for 5SP 130 mm have been at $465/mt CFR and above, while for 5SP 150 mm – at $460-465/mt CFR. “This was done last week. This week $455/mt CFR won't work, mills are asking for $440-445/mt FOB base,” a Singapore-based source said. A Manila-based buyers said that “Chinese mills are definitely trying to increase the price. But weak demand dampens the spirits.”
In Indonesia and Thailand, Chinese and Indonesian mills have been offered at $460/mt CFR for 3SP. Also, an offer from Japan for 4SP has been heard at $460/mt CFR to Thailand. No new deals have been reported so far, as most bids have been still at $440-445/mt CFR.
Ex-iran billet offers for 3SP have been at $445/mt CFR in SE Asia and at $455/mt CFR for 4SP, being among the most competitive recently. However, the trading for this origin has been also limited, at least so far.
The SteelOrbis reference price for import billet in SE Asia (excluding sanctioned materials) has been at $455-465/mt CFR, up by $5/mt over the week.