Offers for CIS
Billet into SE Asia buyers have moved up by $20 as scrap continues to show a upward
trend
Offers from South Korea, Taiwan, Russia, and the CIS are at
$645-650/MT CFR this week, up from $630-640/MT CFR last week.
Malaysian mills, the only major billet producers in
Southeast Asia, are offering billet at $625/MT FOB for $640/MT CFR the rest of
Southeast Asia.
“Billet prices are going up because scrap prices are also
rising. However, demand for CIS billet remains slack as most of the consumers
have been sitting out of the market until the New Year. Only few deals for billet were seen late last week”, said a trader.
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