Steel billet prices in major global markets were either unchanged or softened further during the week ended Friday January 4, amid the continued slowdown in the rebar and scrap markets and with billet demand yet to recover from the 2018 year-end lull.
AsiaImport prices in Southeast Asia moved downward, under pressure from lower offers and bids, although trading activity appeared to be picking up.More offers began to flow into the region on Wednesday and Thursday, after the market's prolonged slowdown during the year-end holidays.Lower offers from the Commonwealth of Independent States (CIS) were available, although most were probably subject to confirmation by mills. Official asking prices from CIS mills were expected to be issued around January 8-10.Russia-origin billet was sold at $442 per tonne cfr Thailand on Wednesday, while Ukrainian billet was said to have been booked to the Philippines at $446 per tonne cfr Manila on Friday.But the Ukrainian deal price was excluded from Fastmarkets' assessment because sources could not confirm at the time of writing on Friday whether the cargo came from a mill in the country's rebel-held eastern provinces. Prices of billet from mills...