Steel markets in Southeast Asian countries remain calm. Other markets in the region have maintained price stability for more than two weeks in a row, while only the export offers of Vietnamese suppliers showed a minimal increase.
Billet prices at Vietnamese ports increased by 5 usd/t since the beginning of the month to USD 515-520/mt FOB. Both Filipino and Thai customers are not ready to go above the USD 520/t CIF band; for this reason, bids have been advancing at the same level for two weeks.
Minimal market activity indicates that prices are unlikely to change significantly for the remainder of July as well. Purchasing activities, which are generally active in the second half of August, will soon show which trend will dominate the market.
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