A brief recovery in Chinese steel billet prices during the week to Friday August 6 has done little to perk up import markets in Southeast Asia, market participants told Fastmarkets.
After a turbulent start to the week in the ferrous futures markets, Chinese buyers returned to the market on Wednesday August 4, booking only a handful of cargoes, sources said.Indonesian blast furnace (BF) 150mm 3sp billet was sold at $705-710 per tonne cfr China following offers at $710 per tonne cfr for 10,000 tonnes of material on Tuesday August 3 and Wednesday, sources said.A deal for Vietnamese induction furnace (IF) billet was also heard at $695 per tonne cfr China.But the new sales did not lead to another jump in offer prices. On Friday, 3sp 150mm BF billet from Vietnam was offered at $710 per tonne cfr China, down $10 per...