Trading activity in Southeast Asia’s import billet market has been slow this week and, though some suppliers have been trying to increase offers, the tradable level has remained at a lower level as fixed in the latest deals. In addition, a few lower offers from Chinese traders have been voiced by the end of the week, signaling that the market is far from showing an improvement.
The SteelOrbis reference price for imported billet in Southeast Asia (includes only EAF and BF billet) has been stable at $520/mt CFR this week, after declining by $5/mt last week. Most offers for 5SP billet for both IF and EAF/BF billets have been voiced in the Philippines starting from $525/mt CFR. “But the real price is not going anywhere. We have no problem buying at $520/mt CFR Manila,” a Manila-based importer said. The last deal was done at this $520/mt CFR level for ex-Indonesia 5SP billet late last week, as reported earlier. “I think buyers can get their target of $515/mt CFR if they wait more,” another source said. On Friday, some new offers for ex-ASEAN IF billets have emerged at $515/mt CFR to the Philippines. “Prices have started to go down again because of futures,” a trader said.
In addition, on Friday, some ex-China 3SP offers from some traders have been reported at $516/mt CFR Indonesia, down by $2/mt from the level seen in the middle of the week. In Thailand, market sources said offers have been mainly stable at around $520/mt CFR.