Steel billet prices in the major global markets remained either unchanged or continued to decline during the week to Friday December 28 amid the year-end trading lull and persistent weakness in finished long-steel markets.
AsiaImport prices for steel billet in Southeast Asia remained flat week on week due to sparse offers, bids and transactions amid the year-end holiday season, with the most recent bookings heard done in the week ended Friday December 21. They included a cargo of Russia-origin billet shipped from the Far East ports of the country and a cargo of Vietnamese induction furnace (IF) billet, both sold to the Philippines at $462 per tonne cfr Manila and $457 per tonne cfr Manila, respectively.Meanwhile India-origin IF billet was sold to Indonesia at $460 per tonne cfr, however, the IF billet prices have been excluded from the assessment because they tend to be lower than the price of mainstream material due to the...