Activity in the Asian import markets for steel billet has been stifled over the past few days amid continued weak demand in the Philippines market and China's Mid-Autumn Festival holiday, sources told Fastmarkets on Tuesday September 21.
Offers from traders for 125mm 5sp-grade billet, made of steel from electric-arc furnaces (EAFs) and originating from Russia's Far East province, were heard at $700-705 per tonne cfr Manila and at $695 per tonne cfr elsewhere this week, down from offers at $715 per tonne cfr for similar material last week.Speculative bids from Chinese buyers for 3sp blast furnace (BF) billet, made while they were on holiday, were...