The availability of significant volumes of lower-priced induction furnace (IF) steel billet in the Philippines import market has led to a cooling of interest in higher-priced blast furnace (BF) billet, sources told Fastmarkets on Friday July 2.
IF billet from Thailand was heard sold at $665 per tonne cfr Manila earlier this week, with an offer for Vietnam-origin material heard later at $663 per tonne cfr.Meanwhile, BF billet was...