SE Asian billet import prices surge on higher regional, Chinese demand

Prices in Southeast Asia's steel billet market remained on an upward trajectory over the past week because of improved demand from regional buyers and sustained interest from Chinese importers, sources said.

Fastmarkets' daily price assessment for steel billet, import, cfr Southeast Asia, which mainly looks at 120-150mm 5sp grade billet sold into the Philippines, was $390-397 per tonne on Friday May 22, up by $5-7 per tonne from $385-390 per tonne a day earlier.
The assessment was in a range of $375-380 per tonne cfr Southeast Asia in the first two days of the week before rising from Wednesday onward.

During the week, two cargoes involving 20,000 tonnes each of July-shipment Russian billet shipped from ports in the country's Far East were sold at $390 per tonne cfr to the Philippines. Market sources said the billet possessed higher manganese content and would be equivalent to $385-390 per tonne for the 5sp...

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