Indonesia sold billet to Europe and East Africa.
Asia, whose energy costs do not increase as much as other parts of the world, turns towards Europe. Indonesia's Dexin Steel has recently exported 30,000 tons and 50,000 tons of steel billets to Europe and East Africa around $515-518/t on FOB basis. The new quotes have now risen to $525/ton FOB.
Indonesia's steel billet exports increased by 26.86 percent month on month to 0.13 mnt in June'22 compared to 0.09 mnt in May'22, according to customs data.
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