Billet prices rising slowly in SE Asia, deals mainly at previous levels

Thursday, 26 October 2023 15:55:28 (GMT+3)   |   Istanbul
       

The rebound in the Chinese market has supported the mood in the import billet market in Southeast Asia, though the price rise has been cautious. A few deals reported since last week have mainly been at the previous levels, though buyers may accept some higher levels in the near future.

The SteelOrbis reference price for imported 3SP and 5SP billet in Southeast Asia has settled at $510-517/mt CFR this week, up by $5-7/mt over the past week.

Buying in the Philippines has been limited and the achievable price for buyers is $510/mt CFR, in line with the previous deal reported last week as done by a Chinese trader for 5SP material. However, offers have been moving up during the week, from $510/mt CFR on Friday to $514/mt CFR on Wednesday and to $517/mt CFR on Thursday for 5SP 130 mm Indonesian material. “There has been a slight increase. Deals are possible here, but maybe not many,” an importer from Manila said. An offer for ex-Thailand IF billet has been at $500/mt CFR, versus $495-498/mt CFR last week, but not many buyers are interested in this material.

In Indonesia, a deal for 20,000 mt of ex-China 5SP billet was signed at $510/mt CFR last week, while this week negotiations for similar material early this week were held at $510-512/mt CFR. “New offers are at $515/mt CFR and higher, but that price is not competitive,” a source from Jakarta said. Not much demand has been seen in Thailand lately. Offers from traders for ex-Iran billet have been rare and not below $510/mt CFR.

The leading mill based in Russia’s Far East region is still focusing on sales to Taiwan. Some tonnages of at least 20,000 mt of 150 mm billets have been traded at $500-505/mt CFR, $5/mt below the previous offers, but above the tradable level at below $500/mt CFR reported over the past few weeks.


Similar articles

Turkish merchant bar export prices stable

08 Nov | Longs and Billet

Local Indian rebar prices under pressure amid sluggish post-holiday trade

05 Nov | Longs and Billet

Indian local rebar and billet markets remain sluggish, prices down $6-20/mt weekly

29 Oct | Longs and Billet

Numerous import billet offers in Turkey, but yet to attract much interest from buyers

23 Oct | Longs and Billet

Local Indian rebar and billet prices lose ground amid weaker demand

22 Oct | Longs and Billet

Local Indian rebar prices roll back in some regions, but positive mood still persists

15 Oct | Longs and Billet

Major Asian billet exporters start to target $500/mt FOB, firm offers very limited

08 Oct | Longs and Billet

Chinese domestic steel section prices surge sharply

30 Sep | Longs and Billet

Oct.1 dockworker strike to affect containerized imports, finished steel products, steel experts say

28 Sep | Steel News

Iran floats several export tenders for semi-finished products

18 Sep | Longs and Billet