The market for cargoes of steel billet imported to Southeast Asia expanded again over the past week, with suppliers raising their offers, influenced by higher finished steel prices in China.
China's domestic rebar prices jumped to a two-year high on Tuesday thanks to strong construction demand and falling steel stock levels in the country.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 $475-480 per tonne cfr...