In Indonesia, prices for 150 mm billets are on a downward trajectory. For 3sp quality, prices were recorded at 495 USD/ton cfr and for 5sp quality at 502 USD/ton cfr in the week of June 28th. These prices are at notably low levels.
An Indonesian factory executed sales of 3sp 150 mm base billets at 483 USD/ton fob, which is below the targeted 490 USD/ton fob.
South Korean EAF 3sp billet is offered at USD 503/t cfr from Jakarta. However, these prices are facing challenges in finding buyers due to the lower cost of Chinese billets.
Chinese 3sp billets are currently offered at 495-500 USD/ton cfr from Taiwan, equivalent to approximately 480-485 USD/ton fob. Prices in Vietnam are also showing a downward trend. A Vietnamese trader notes that China has reclaimed its position as the price leader.
The Philippines market remains quiet with no reported deals last week. Japanese and South Korean EAF billets have re-emerged in the market, with 3sp offers at 505 USD/ton cfr from Manila.
Prices for 5sp/ps or Q275 120/125/130 mm square billets have declined by 7.5 USD to 505 USD/ton cfr in Manila.
In conclusion, Chinese billets dominate the ASEAN billet import market, which is experiencing a general downward price trend. The leadership of Chinese-origin billets in the ASEAN market and the overall price decline are significant factors shaping trade dynamics in the region.
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