Fears of fresh Covid-19 lockdown in Philippines weigh on import billet prices

March 20, 2021 / www.metalbulletin.com / Article Link

Concerns about a fresh Covid-19 lockdown in the Philippines are limiting the prices that most buyers are willing to pay for imported steel billet, market participants told Fastmarkets on Friday March 19.

Philippine steel demand was severely affected last year during the country's lockdown periods and sources believe a repeat of this situation could come soon after daily Covid-19 cases soared to an all-time high of 7,103 cases on Friday.
"The Manila market is super bearish due to fears over another lockdown. A further correction in scrap prices is also expected," a Singaporean trader said.
"The Philippines will only book billet if the price is at $600 per tonne or below," a Philippine trader said.

"There is weakness and a low confidence level in...

Recent News

Gold stocks reach new highs on metal price gain

August 25, 2025 / www.canadianminingreport.com

Rise in gold stocks propels TSXV Mining

August 25, 2025 / www.canadianminingreport.com

Market sees gold sector nearing full value overall after target upgrades

August 18, 2025 / www.canadianminingreport.com

Gold stocks gain even as metal pulls back

August 18, 2025 / www.canadianminingreport.com

Gold stocks rocket to new highs, valuations no longer inexpensive

August 11, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok