Prices of steel billet imported to Southeast Asia have settled into a pattern of relative stability during the week to Monday September 21, market participants told Fastmarkets.
Import billet prices climbed through early September with buyers facing a shortage of material after low purchase volumes in recent months, but weaker market sentiment in China and a drop in Asian scrap prices have limited any further upside in the market.Most market participants told Fastmarkets that $450 per tonne cfr Southeast Asia was the highest price that consumers in the Philippines,...