Prices for imported billet in Southeast Asia have been relatively stable this week, but buyers have started to report a softening of sentiments and some offers since Wednesday, May 8.
Offers for 5SP billet of Asian origin in the Philippines have remained at $525/mt CFR at the lowest from traders for BOF/EAF material and at least one offer has been at $523/mt CFR on Thursday, while higher offers at $530-535/mt CFR are also heard but are considered to be unworkable. The highest offers voiced last week at $540/mt CFR have been withdrawn. The lowest offers have been coming for ex-Malaysia IF billet at $520/mt CFR, and for ex-Vietnam IF there has been an offer at $525/mt CFR. Buyers have been asking for discounts and bids from Manila-based buyers have softened to $515/mt CFR. “Early in the week, there was an attempt to push up billet prices after the recent Chinese holiday. But it seems there has been a softening of prices starting yesterday,” an importer said.
An ex-Thailand EAF billet offer has been reported at $533/mt CFR Indonesia, but “this is too high. Nobody will buy anyway,” a Jakarta-based source said, adding, “This week there will not be much activity in Indonesia due to the holiday,” he added.
The ex-Iran billet price to Thailand is still at $505-510/mt CFR.