ASEAN buyers are resisting lower billet import prices amid a softening market, according to Kallanish. In the Philippines, offers for Japanese EAF billet are competitively priced, with February shipments being quoted at $462 per tonne cfr Manila. Traders are reportedly inviting bids as low as $460/t cfr against initial offers of $475/t cfr. However, buying interest remains weak due to the holiday season, with many companies closing for Christmas and New Year. Chinese billet prices have also dropped, reflecting declines in steel futures and spot markets. Kallanish has adjusted its assessment for 5sp/ps billet to $460/t cfr Manila, down $5/t from the previous week.