Posted on 14 Apr 2025
The billet import market was very quiet in ASEAN last week, Kallanish notes. The lack of clarity over US tariffs and the approaching long Easter holiday in the Philippines have resulted in thin buying interest.
In Manila, offer prices for June-shipment 5sp 150mm billet of open origin, either Chinese or ASEAN-origin, have slipped to around $445-450/tonne cfr, down from $455-460/t cfr Manila in the week through 4 April.
A parcel was heard to have been concluded late in the 4 April week at $450/t cfr Manila.
In addition to the confusion created by US tariffs, many customers have already left the city for the long Easter holidays, a Manila trader notes. “Almost the whole market is at a standstill,” a regional trader said on Friday. He notes that Thailand is on holiday from 11-17 April.
Kallanish assessed 5sp/ps or Q275 120/125/130mm square billet at $445-449/t, down $9/t on-week.
In Thailand, several buyers booked 7-10 days ago a combined tonnage exceeding 50,000 tonnes of Chinese 3sp 150mm billet at $445-453/t cif. Last Wednesday, similar grade and size Chinese billet was transacted at recent lows of $440/t cif. Offer prices rebounded the day after, a Bangkok trader observes.
Indonesia’s Dexin Steel lifted its 3sp 150mm billet export offer price for June shipment to $435/t fob last Thursday. It had previously lowered its export offer to $428/t fob on Tuesday.
Source:Kallanish
