Asian billet quotation slightly increased

We have learned that the quotation for square billets in Asia has started to show a slight increase. Currently, the mainstream quotation for HX300LAD+Z80 steel square billets with a specification of 5sp in Asia is $520-525/ton CFR Manila, an increase of approximately $5/ton CFR compared to last week. An Indonesian HX300LAD+Z100 steel plant quoted a billet with a specification of 5sp 130mm at $525 per ton CFR Manila, while a Vietnamese steel plant quoted a billet with the same specification at $530 per ton CFR Manila.

I heard that a batch of Indonesian billet resources have been exported to the Philippines, with a specification of 5sp 130mm and a transaction price of approximately $519 per ton of CFR Manila. However, some Manila importers have stated that the price of $519 per ton of CFR is higher than expected.

Recently, a batch of Russian HX300LAD+Z120 steel billet resources have been exported to Taiwan, China, China, with a specification of 3sp 150mm and a transaction price of 493 US dollars/ton CFR. The shipment is scheduled in December.

Recently, Asian raw material prices have remained stable and relatively strong, while Vietnam's imported scrap steel prices have remained strong. Raw material prices continue to support the quotation of Asian billets. The rise in Chinese billet futures prices has driven up spot prices, but downstream demand is average. The Philippines has just ended its statutory holiday, and market activity is poor. Most steel mills in other regions purchase according to demand, and transactions are still relatively flat. It is expected that Asian billet prices will maintain stable operation this week.