25
Apr
10:42
Billet, wire rod prices nose-dive in Philippines
The import markets for billet and wire rod have worsened considerably due to the fallout in the Chinese futures market. Traders are trying to short-sell cargoes by inducting bids at low levels, but buyers are steering away in the falling market, Kallanish notes.
Multiple offers for 5sp 130/150mm billet from China and ASEAN for June/July shipment have plummeted to $535-540/tonne cfr Manila from around $570/t cfr last Thursday.
“Traders are clearly short-sel…
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Anonymous
Very good overview of the weekly steel market.
Anonymous