Import prices for steel billet in Southeast Asia widened downwards this week as lower offers for China-origin billet had a negative impact on price negotiations.
Metal Bulletin's weekly price assessment for billet imports in Southeast Asia was $530-545 per tonne cfr in the week ending Monday January 15, down $5 per tonne at the lower end of the range from $535-545 per tonne cfr.At least four deals involving cargoes from China, Russia and the Middle East were concluded at $535-545 per tonne cfr Southeast Asia. Offers for Chinese billet had been heard at $540 per tonne cfr early last week, but on Friday January 12 fell to $515-520 per tonne fob - equivalent to $530-535 per tonne cfr, according to a trader in East Asia. "Chinese mills are more actively seeking export sales as China's domestic prices continue falling," the trader said.Offers from China came in at $520-530 per tonne fob last week, when China-origin billet had just re-entered Asia spot markets.Offers for CIS-origin billet, meanwhile, were heard at $545 per tonne cfr. A trading company was looking to sell up to...