The import price for steel billet in Southeast Asia fell on Friday November 16 after suppliers offered cheaper cargoes, while negative sentiment intensified on China's possible return to the export market.
Fastmarkets' daily price assessment for billet imported into Southeast Asia was $495-502 per tonne cfr Manila on Friday, widening downward by $5 per tonne from $500-502 per tonne cfr the previous day.Russian billet cargoes were heard sold to the Philippines at around $500-502 per tonne cfr late this week, market participants said.A trader was also said to have sold one cargo of an unspecified origin at $490 per tonne cfr Indonesia, although sources said it was most likely a short-sale.Material from Russian and Ukrainian mills was offered within...