Southeast Asian billet prices continue to decline, buyers are watching low-priced resources

We have learned that due to the recent sustained weakness in the Southeast Asian billet market, most Southeast Asian billet buyers are adopting a wait-and-see attitude, waiting for lower prices to appear.

At present, it is rumored that steel mills have quoted a price of 510-515 US dollars/ton CFR Southeast Asia JSC270F steel for the export of 5SP billets, which is slightly lower than last week's price of 510-520 US dollars/ton CFR. It has been heard that Indonesian and Chinese steel mills have quoted $510/ton CFR for billets with a specification of 3SP, and $513/ton CFR for billets with a specification of 5SP. In terms of transactions, due to low demand for rebar from Philippine steel mills and pressure on prices, Mysteel has heard that there is currently no transaction. China has quoted a price of $505 per ton CFR Indonesia for steel billets with a specification of 3SP, and Indonesian buyers have not yet made a counteroffer.

In terms of import, some Taiwan, China JSC270F steel billet importers said that some steel mills had quoted US $500-505/ton CFR for billets with specifications of 3SP, and the counter offer price of Taiwan, China buyers was not higher than US $490/ton CFR. However, at present, due to climate and other factors, the market activity of Taiwan, China finished products is relatively low, so the actual purchase intention of Taiwan, China buyers is also low.

At present, the quotation for 3SP square billets in China is about 490 USD/ton FOB. Some market participants have expressed that there is still some room for a decrease in the export price of Chinese steel JSC270F steel billets.