Southeast Asian billet import prices climb on supply concerns

Prices in Southeast Asia's steel billet market gained during the week to Thursday December 5 amid concerns over a potential supply deficit after a Russian steelmaker halted production.

Sources told Fastmarkets that the Russian mill was facing difficulty in obtaining financing for raw materials due to a government probe into the company.
A total of 100,000 tonnes of February-shipment billet from the Commonwealth of Independent States (CIS) was booked at $440 per tonne cfr to the Philippines in the past week.

These transactions involved buyers who were willing to...

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