SE Asia billet prices set to continue rise amid scrap price spike

Import prices for steel billet to Southeast Asia are likely to continue rising with strong scrap prices and resurgent demand leading sellers to contemplate another sharp offer price increase.

"On Friday, all sellers withdrew their offer prices - let's see if new offers are made by mills on Tuesday," an Indian trader said on Monday December 14.
"Prices are going up on a daily basis but at the start of this week, everybody is just watching each other so far," an East Asian trader said.
A Vietnamese trader said he expected mills to raise offer prices significantly when they return to the market later this week given the higher scrap prices recorded in recent days.

Fastmarkets' daily price assessment for steel billet, import, cfr Southeast Asia, which mainly looks at 120-150mm 5sp...

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