Asia steel billet prices increase amid bullish seller sentiment

A growing optimism from sellers has led to higher offers for steel billet cargoes shipped to Southeast Asia in the last day, market participants told Fastmarkets on Thursday February 18.

Fastmarkets' daily price assessment for steel billet, import, cfr Southeast Asia, which mainly looks at 120-150mm 5sp grade billet sold into the Philippines, was $560-570 per tonne cfr on Thursday, up $10 per tonne from $550-560 per tonne day on day and up $10-15 per tonne from $545-560 per tonne week on week.
Along with higher offer prices from sellers, the market was boosted further on Thursday following China's return from its New Year holidays and the subsequent rise in its domestic billet prices.

As at 3pm on February 18, billet was being traded at 4,080 yuan ($631) per tonne including value-added tax in Tangshan, up by 230 yuan per tonne from February 5....

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