29
Nov
10:59
Manila billet market sinks on weak buying interest
Exporters of billet are relenting to buyers in ASEAN where steel demand has been sluggish, Kallanish notes. While sellers were aggressively trying to hike offers last week, importers of billet were shunning these offers.
Offers for open-origin Chinese/ASEAN blast furnace 5sp grade billet for January/February shipment have mostly narrowed to $535-540/tonne cfr from $540-550/tonne cfr Manila last Friday, local and regional trading sources say.
A Manila trader says …
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Anonymous
Very good overview of the weekly steel market.
Anonymous