Import prices for steel billet in Southeast Asia rose on Friday February 8 after an unexpected surge in offer levels, although trading activity remained slow with some market participants still away for the Lunar New Year.
Fastmarkets MB's daily import price assessment for billet in Southeast Asia was $455-470 per tonne cfr Manila on Friday, up $5-10 per tonne from $450-460 per tonne cfr on Thursday.Southeast Asia's billet market was quiet for most of this week due to the Lunar New Year break, sources said. Some markets in Asia, including Vietnam, China and Taiwan, only end their holidays officially next week."Market participants are waiting to see what Chinese mills will do...