Southeast Asia steel billet markets rangebound on tepid demand

Demand for cargoes of steel billet has been low in key Southeast Asian markets over the past week with prices rangebound, sources told Fastmarkets on Friday August 13.

"The Southeast Asian markets are dead, there are no bids from Thailand, which has now become a billet exporter, and there is a very strict lockdown in the Philippines," a South Asian billet trader said.
"Philippine demand is in really bad shape. We need cheaper prices to support low domestic finished product prices," a billet trader in the country said.

A second South Asian source told Fastmarkets that he had heard bids for wire rod imports at around $730-740 per tonne cfr Manila...

Monetary-driven precious metals outperform major base metals

Gold stocks hit by plunging equities markets

Gold stocks down as metal and equities momentum fades

Another Kazatomprom guidance announcement shakes uranium price

Major monetary drivers still supporting gold