The ASEAN billet import market experienced a quiet week due to the uncertainty surrounding US tariffs and the Easter holiday in the Philippines. In Manila, prices for June-shipment 5sp 150mm billet of open origin, either Chinese or ASEAN-origin, declined to $445-450/tonne cfr from $455-460/t cfr the previous week. A transaction was recorded at $450/t cfr late last week.
Market activity slowed down further as customers left for the long Easter holiday, with the market described as almost at a standstill by traders. Thailand’s holiday period from April 11-17 also contributed to the stagnation.
In Thailand, buyers booked over 50,000 tonnes of Chinese 3sp 150mm billet at $445-453/t cif earlier in the month, while similar transactions were concluded at lows of $440/t cif last Wednesday. Prices rebounded shortly after, according to a Bangkok trader.
Indonesia’s Dexin Steel raised its June shipment export price for 3sp 150mm billet to $435/t fob on Thursday, after reducing it to $428/t fob earlier in the week. Market sentiment remains cautious amid ongoing tariff-related concerns.
