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17 Nov

ASEAN billet importers resist rising offers

Exporters of billet have raised offer prices again in ASEAN, Kallanish notes. But buyers are still not prepared to pay up because regional demand is weak, trading sources say. Offers for open-origin Chinese/ASEAN blast furnace 5sp grade billet for January shipment are at around $540/tonne cfr Manila, up from the previous week’s $523-535/t cfr, local trading sources say. Market sources estimate that buyers are now bidding at $520-525/t cfr, while others say…
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