Steel billet import prices in Asia fall again amid soured sentiment

Steel billet prices in key Asian import markets have continued to edge down in recent days amid weaker demand, sources told Fastmarkets on Tuesday August 24.

Chinese ferrous futures gained ground on Monday and Tuesday after last week's crash, but the reaction from the physical spot market for steel billet has so far been limited, with bids from Chinese buyers still far below the offer prices.
Offers were heard at $638 per tonne fob Vietnam for late-September shipment of 3sp or 4sp 150mm steel billet on Tuesday. After freight costs are added, that would work out at around $668 per tonne cfr China, sources said.

But Chinese buying interest has remained tepid, with bids heard at around $635 per...

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