The ASEAN import and Chinese export markets have seen billet prices rise as demand for ASEAN billet increased last week, fueled by higher scrap and steel prices in other markets.
Indonesia's Dexin Steel steadily raised its export prices for May-shipment 3sp 150mm billet, reaching $455/ton fob, following good sales outside Asia. This marks the third consecutive increase from the $435/ton fob low on 11 March. Subsequent bookings were reported at around $440/ton fob for buyers in the Middle East and Turkey.
Offers for 5sp 150mm billet of Chinese or ASEAN origin for May shipment were between $465-470/ton cfr last Friday, up from $460/ton cfr in Manila the week prior. However, market demand remains weak, with some traders finding $455/ton hard to secure.
In Indonesia, Chinese billet prices also climbed, with 3sp 150mm billets offered at $460/ton cfr and 5sp billets at $465/ton cfr last Friday. Dexin’s prices have risen above $470/ton cfr, although Southeast Asian customers have been hesitant to match these increases.
Chinese domestic billet prices in North China rose by $6/ton to $447/ton last Friday, supported by a rebound in rebar contracts on the Shanghai Futures Exchange. Exporters face challenges as domestic price increases make export deals harder to close.
