Last week, the Southeast Asian billet import market was stable and the buyers’ asking prices decreased. Therefore, the market activity decreased.
Import billet was heard stable at $585/tons CFR Philippines. On the other hand, the volatility of the Chinese rebar futures market had an effect on the billet market in the region. Rebar in the futures market of China had a sharp drop of 17 dollars and was recorded at 636 dollars per ton.
According to Iran Steel, Vietnam’s export billet was also recorded at 540-550 dollars per ton fob, which had a weekly drop of 15 dollars, but no deal was finalized. According to Steel mint, Iran’s export billet had a weekly drop of $30 and reached $500 per ton fob.
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