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This week, after Filipino buyers returned to the market after the holiday, Southeast Asian HX180YD+ZF steel billet prices rose again. The mainstream quotation for square billets with a specification of 5sp is approximately $525/ton CFR Manila, with a weekly increase of $5/ton.
At present, given the increase in futures HX180YD+ZF steel prices in May, some traders are optimistic about the subsequent quotes for Southeast Asian steel billets, believing that there is still room for further increase in the quotes for HX180YD+ZF steel billets in the future. However, Philippine buyers have poor acceptance of the quotation, with some buyers offering a counteroffer of $500/ton CFR Manila for 5SP. And given the current insufficient support for downstream demand in the Philippines, some buyers have stated that they can only make a profit by buying at a price of $500 per ton of CFR. Therefore, they have stated that only at this price will actual purchases be considered.
