Offer prices for 5sp quality billets, 130 mm or 150 mm square, from ASEAN/China increased by $10 per ton, reaching $560/ton cfr Manila compared to the previous week. While one trader stated that offers for 5sp quality billets were at the level of $540-543/ton cfr, another source indicated that offers were at $545/ton cfr and even $550/ton cfr.
An assessment expert emphasized the challenging situation in Manila, stating, "The condition in Manila is very weak," highlighting that construction steel prices cannot cover the current billet costs. It was noted that 5sp/ps or Q275 120/125/130 mm square billets were at $540-545/ton cfr Manila with a weekly increase of $5.
International traders have reportedly placed orders for 3sp quality 150 mm billets for March shipments from a leading producer in Indonesia at $530/ton fob.
The same Indonesian producer was reported to have signed billet export agreements for 3sp billets to the Latin American market at $528/ton fob by the end of the week until January 19.
An Indonesian factory offered 3sp 150 mm billets for March shipments at $550/ton cfr Jakarta on January 25, but the price was considered too high.
Customers in Thailand mentioned that they could make reservations for Iranian billets at $505-515/ton cfr, responding to offers at $525-530/ton cfr. A trader in Bangkok also stated that domestic induction furnace billets were priced at an equivalent of $505/ton.
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