Offer prices for import billet in Southeast Asia have increased this week, following the rebounding trend in the local Chinese market ahead of the upcoming week-long holiday. Trading has been limited, but Iranian and some ASEAN origins have become the most competitive.
The SteelOrbis reference price for imported billet in Southeast Asia has settled at $455-465/mt CFR, with the midpoint at $460/mt CFR, up by $10/mt on average over the week.
The higher end of the range - $465-470/mt CFR - reflects the latest Asian offers for 5SP to the Philippines. Most buyers have been absent from the market after purchases at $445-450/mt CRR earlier in the month. However, some said that small volumes could be traded at $460/mt CFR (mainly for ASEAN origins), if someone needs material and want to sign a deal this week. A few traders have increased offers to above $470/mt CFR, which has been unworkable as there is no common opinion about the trend after the holiday.
In Thailand and Indonesia, offers for 3SP Asian origin billets have increased by $5-10/mt over the past week to $460-465/mt CFR. But this level has been totally unworkable. Moreover, market sources said that Iranian billets have become more competitive after many months. Offers from Iran to Indonesia for 3SP have been at $450/mt CFR and small discounts have been possible.
