Prices for steel billet in the major global markets have gone down or remained stable during the working week from Monday October 8 to Friday October 12, amid poor demand and increasing supply.
The major buying regions, such as Turkey the Middle East, were mostly quiet and no major trading activity was heard for billet, while only a few deals were heard in Southeast Asia.Southeast AsiaImport prices for steel billet in Southeast Asia edged downward under pressure from the sustained weakness of buying interest in the region.Few deals were heard concluded during the week, and the region's tradable price range was estimated around $510-515 per tonne cfr Manila.One Ukrainian mill was heard to have sold billet to Thailand at $500-505 per tonne cfr Thailand.Offers from the CIS were heard at $515-520 per tonne cfr Manila late in the week, for cargoes to be shipped from Russia's Far East province.India-origin materials were offered at $512-516 per tonne cfr in the Philippines, sources said.Vietnamese billet, produced in blast furnaces (BF), was available around $530 per tonne cfr Manila, while Turkish billet was offered around $520-525...