GLOBAL BILLET WRAP: Negative sentiment in Asia drags prices down

December 03, 2018 / www.metalbulletin.com / Article Link

Steel billet prices continued to fall in most global regions during the working week from Monday November 26 to Friday November 30, due to a return of Chinese producers to the export market and a downturn in the Asian markets.

Sentiment in the export billet market in the Commonwealth of Independent States (CIS) became more depressed, while import prices in the Middle East and Turkey weakened in line with lower offers from CIS suppliers.ChinaBillet prices in the Chinese market were 3,120 yuan ($450) per tonne on November 30, down by 310 yuan per tonne from November 23.The spot market inventory for the product in Tangshan was 270,000 tonnes on Friday, up by 70,000 tonnes from a week before, a billet trader in Tangshan said, quoting a local industry information provider.The export offer for the product was $440 per tonne fob late last week, but buyers were bidding $400-410 per tonne fob, an export trader in east China said.There were no deals heard during the week, however.Southeast AsiaImport prices for steel billet in Southeast Asia fell further at the end of the week amid downward pressure from low-priced Chinese materials, although...

Recent News

Gold stocks lead the large cap miners by far over H1/25

July 07, 2025 / www.canadianminingreport.com

Gold stocks up as the metal price and equities gain

July 07, 2025 / www.canadianminingreport.com

Mixed outlook for gold as it remains range bound for past three months

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on flat metal price

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on metal decline

June 23, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok