Buyers in China and the Philippines have recently booked a handful of steel billet import cargoes, leading to a rise in offer prices in the past day, sources told Fastmarkets on Wednesday August 25.
Demand for physical cargoes of imported billet in China has been hampered by volatile futures markets over the past week, while interest in Southeast Asia has been hurt by ongoing battles with Covid-19 in the region, leading to lower prices at the start of the week.Deals for Indonesia-origin 3sp 150mm steel billet were concluded at $675 per tonne cfr China on Wednesday, Chinese...