Import prices for steel billet and slab in Southeast Asia held steady over the past week, with end-users of the former and non-Chinese mills being slow to react to lower offers from China, while the rainy season dampened demand for the latter.
Metal Bulletin's assessment of import prices for billet in Southeast Asia was $530-545 per tonne cfr for the week ended Monday January 22, unchanged from a week earlier. Deals involving Chinese cargoes were heard concluded at $530 per tonne cfr to the Philippines last week. Transactions involving cargoes from India and the Commonwealth of Independent States were concluded at $545 per tonne cfr, according to market participants.Offers from China were heard at $530-535 per tonne cfr Southeast Asia, down $5-10 per tonne week on week amid a declining domestic market in the country, according to...