Tag: SE Asia: Billet import offers fall on declining futures

Imported billet prices in the South East Asian markets dropped by around $40-45/tonne (t), owing to a drop in rebar futures on the Shanghai Futures Exchange (SHFE). The futures dropped by RMB 529/t ($82/t), week-on-week (w-o-w) to close at RMB 5,112/t ($795/t) on 21 May’21. However, earlier this week, an Iranian cargo was reported to…