Indonesian producer Dexin increased its billet offer to $465/t FOB, aligning its prices more closely with other regional suppliers. Russian billet export prices remained unchanged at $470/t FOB Black Sea, as suppliers continued to hold firm despite limited fresh buying interest. Meanwhile, Iranian billet export offers were heard only sporadically at $405-410/t FOB, with buyers targeting the lower end of the range.
Chinese mills offered 3sp billet at $460-465/t FOB for September shipment, while traders continued to secure cargoes at more competitive levels of $450-455/t FOB, reflecting active trading opportunities for prompt cargoes despite higher mill offers.
In Southeast Asia, buying interest remained weak. The Philippine market stayed quiet as the rainy season and sluggish construction activity continued to weigh on steel consumption. Buyers limited purchases to immediate requirements, with Chinese 5sp billet offered at $485/t CFR Manila, while workable bids remained around $475/t CFR, leaving a noticeable price gap.
In Taiwan, Chinese-origin 3sp billet was offered at $480-485/t CFR, although buying activity remained restrained as customers continued to seek lower prices.
The slab market also remained competitive. Chinese slab export offers for September shipment were reported at $470-488/t FOB. Suppliers were heard offering slab to Taiwan at around $480/t CFR, while buyers were bidding closer to $470/t CFR, preventing new transactions from emerging.
Indonesian producer Dexin was also heard offering slab at around $475/t FOB for September shipment, reinforcing competitive pricing from Asian suppliers. Despite generally cautious market conditions, one notable transaction was reported, with approximately 30,000 tonnes of Japanese slab sold to Southeast Asia at $535-540/t CFR for shipment by the end of August, indicating that buyers remain willing to secure cargoes when pricing and quality meet their requirements.
Overall, the billet and slab markets continued to move within relatively narrow price ranges. While exporters largely defended their offer levels, weak downstream demand in several importing regions and persistent buyer resistance continued to limit trading activity.
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