Asia import billet prices remain largely flat in handful of new deals

Prices for steel billet imported to China and Southeast Asia were largely unchanged during the week to Friday June 18, with bids falling but deals heard propping up prices across the week.

Chinese buyers dropped their bid prices to $660-670 per tonne cfr China towards the end of this week, from $690 per tonne cfr on Monday, amid a downtrend in ferrous futures markets.
Offers for Indonesia-origin 3sp blast furnace (BF) billet fell to $700 per tonne cfr China on Friday, down from $710-720 per tonne cfr earlier in the week, Fastmarkets heard. Other Asean-origin billet was offered at $695-700 per tonne cfr China, while Japanese billet was offered at $710-720 per tonne.

But despite the fall in buying interest, a deal for Vietnamese 3sp BF billet came to light which was done in the past week at $660 per tonne fob, which sources said would work out at $690-700 per tonne cfr...

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