SE Asian billet import prices tumble amid scrap downturn, coronavirus fallout

Prices in Southeast Asia's steel billet market have plunged over the past week, tracking losses seen in the bellwether Turkish ferrous scrap import market amid the fallout from the Covid-19 pandemic.

Fastmarkets' daily price assessment for steel billet, import, cfr Southeast Asia, which mainly looks at 120-150mm 5sp grade billet sold into Manila, was $380-385 per tonne on Friday March 27, down $5 per tonne from $385-390 per tonne the previous day.
The price is down $20-25 per tonne compared with $400-410 per tonne a week earlier.
During the week, Russian billet was offered at $390-395 per tonne cfr Southeast Asia, while Indian billet was available at $385-390 per tonne cfr Southeast Asia.

Billet produced in Vietnam using a blast furnace was offered at $380 per tonne fob, while material produced in the same country using an induction furnace (IF) was available at $390 per tonne cfr Southeast Asia. Fastmarkets...

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