Buyers in the ASEAN billet import market are resisting higher offer prices amid thin trading activity. In Manila, rerollers are bidding below offer levels for 5sp 150mm square blast furnace billet from ASEAN/China origins for end-June/July shipment, which are prevailing at $520-525/tonne cfr. Offers for 130mm billet are around $6-8/tonne higher.
Manila rerollers are bidding under $525/tonne cfr for 5sp 130mm billet, as the weak domestic rebar market prevents them from accepting higher imported billet offers. An Indonesian mill's offer for 3sp 150mm billet remains around $500/tonne fob, the last price it sold to Sri Lanka via a Chinese trader in early May.
In Taiwan, Chinese 3sp 150mm billet for June/July shipment is offered at $520/tonne cfr, though no bookings were reported last week. In Thailand, the same grade and size billet from China is being offered at $515/tonne cif.
The stagnant ASEAN billet market reflects buyers' resistance to higher prices amid sluggish demand conditions.
