SE Asia: Imported billet prices fall w-o-w amid bearish steel sentiments

Southeast Asia's imported billet prices witnessed a fall this week amid lower bids, limited trade and weakened finished steel sentiments in the region.

SteelMint's bi-weekly assessment of billets (150x150mm, 3SP) imported by the Philippines currently stands at around $535/tonne (t) CFR Manila, a decrease of around $18/t, w-o-w.

As per sources, Manila-based steelmakers booked around 10,000 t of billet (130mm 3sp) at $535 CFR recently this week.

Market highlights

• Vietnam's billet export offers range-bound: Vietnam's BF-grade billet export offers stood at around $540-550/t FOB, remaining range-bound w-o-w. However, no active deals have been reported so far at current offers.
  
  
• Iranian billet export market sees muted trading: Iran's billet export market remained silent this week with prices witnessing a marginal decrease w-o-w. No deals for exports were recorded by SteelMint so far. Moreover, economic activities in Iran are getting hampered due to pending political negotiations involving the Joint Comprehensive Plan of Action (JCPOA), sources informed. SteelMint's latest assessment of Iran's billet (3SP) export prices stood at around $460/t FOB on 23 September, stable, w-o-w.