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SE Asia: Imported billet offers inch up w-o-w despite subdued buying interest

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BigMint Bureau

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6 Dec 2024, 19:25 IST

SE Asia: Imported billet offers inch up w-o-w despite subdued buying interest

Weak finished demand drives lower trades

Chinese billet prices decline by $6/t w-o-w

Imported billet prices in Southeast Asia remained largely stable this week, with a marginal hike. Buying interest was subdued due to weak demand for finished steel, with market participants avoiding making new bookings.

BigMint's weekly assessment of billets (150 x 150 mm, 3SP) imported by the Philippines inched up by $5/tonne (t) w-o-w to $470/t CFR Manila on 6 December 2024. As per sources, billet offers stood at $470-472/t CFR Manila.

Market highlights

Vietnam's export offers remain stable w-o-w: Vietnam's blast furnace (BF) grade billet export offers stood at $460/t FOB on 6 December, a drop of $5/t w-o-w. As per sources, a 20,000-t billet export deal was concluded at $460/t FOB.

Chinese billet prices fall RMB 40/t ($6/t) w-o-w: Billet prices in China's Tangshan fell by RMB 40/t ($6/t) w-o-w to RMB 3,070/t ($423/t), including 13% VAT, on 6 December. Weak market sentiments from declining raw material costs, rebar futures, and finished prices weighed on billet tags. Meanwhile, SHFE rebar futures (May 2025 delivery) decreased to RMB 3,311/t ($455/t) on 6 December, 2024.