In the Asian billet import market, there is still a price gap between buyers and sellers. Suppliers continued to increase offerings amid buying support in China.
Last week, a shipment of 24,000 tons of Russian 125mm billet was offered and booked at $ 452 per tonne in Manila. According to the buyer, the shipment, possibly for shipment in January, was ordered on Thursday or Friday.
Another Russian mill offers shipment of 100mm square billets at $ 455 per tonne and 130mm billets at $ 460 per tonne. No deals have been made, according to trade sources in Manila. “Offers for the Philippines are $ 455–460 per tonne francs, but mostly no deals,” says a regional trader. An EAF billet from Japan was ordered last week at $ 450 per tonne in Manila.
A December delivery order for a 10,000 tonne Vietnamese induction furnace billet was completed at US $ 455 per tonne in Manila. A buyer needs fast delivery, says a Vietnamese trader. Since then, bids for billets for Vietnamese induction furnaces have grown to $ 460-465 per tonne of Manila. A Vietnamese blast furnace billet is now tagged at $ 470 per tonne in Manila.
Increased the size of Q275 120/125/130 mm square billet to $ 452-455 per tonne in Manila, up $ 2 per week.
Meanwhile, in China, billet prices are going up. Orders were placed late last week for the ASEAN 150mm square billet billet for December delivery at $ 455-457 per ton from China. They came from Indonesia and Vietnam at $ 457 per tonne and $ 455 per tonne francs, respectively. As noted by the Chinese trader, the Indonesian mill has increased the supply of procurement to $ 470 per ton. The prices for billets in the domestic market are growing. In Tangshan, billet prices currently prevail at RMB 3,510 / t (US $ 530 / t), up RMB 60 / t from the previous period.
