Prices in Southeast Asia's steel billet market fell during the week to Thursday January 30 with market participants adopting a bearish outlook amid weakening ferrous scrap prices and uncertainty surrounding the coronavirus outbreak in Wuhan City, China.
Nonetheless, billet demand from the Philippines is likely to remain steady until the onset of the rainy season in late May, sources told Fastmarkets.Fastmarkets' daily price assessment for steel billet, import, cfr Southeast Asia which mainly looks at 120-150mm 5sp grade billet sold into Manila, was $435-440 per tonne on January 30, unchanged from the previous day and down by $3-7 per...