Posted on 10 Nov 2025
Chinese billet prices have softened in tandem with the weaker Shanghai Futures Exchange. Despite this, ASEAN buyers have still not returned to trade actively, Kallanish notes.
Offers for 5sp 150mm square billet were prevailing at $445-450/tonne cfr Manila and around $450/t cfr Jakarta at the end of last week. This compared with offers at $450/t cfr Manila and $453-456/t cfr Jakarta on 31 October.
There is “zero traction of the Manila market due to the weak futures and Typhoon Tino,” a regional trader says. “Buying interest is not much because I think business is slow,” a Manila reroller notes.
Kallanish assessed 5sp/ps or Q275 120/125/130mm square billet on Friday at $445/t cfr Manila, down $2.5/t on-week.
There were no deals heard in the market last week, a Jakarta trader said on Friday. “I think we can still bid at a $5/t discount,” observes a Jakarta reroller who perceives that the market is soft with suppliers more willing to accept lower prices.
A booking of 30,000 tonnes of Iranian 5sp billet was heard at $443/t cfr Indonesia during the week ended 31 October, regional trading sources say. "Iranian billets are regular business in Indonesia so import procedures are smooth,” a regional trader comments.
Indonesian mill Dexin Steel's offer for 3sp 150mm billet stood at $433/t last Friday, down $7/t on-week and $2/t lower on-day.
In Thailand, suppliers are inviting bids at $440/t cif against prevailing offers of around $442-445/t cif for 3sp 150mm 0.4-0.6% Mn content billet for December shipment from China. Buyers are targeting to book at $435/t cif, a Thai trader says.
In China, 3sp 150mm billet was offered at around $430/t fob last Friday, down by $5/t week-on-week, as the most traded, January 2026 rebar contract on the Shanghai Futures Exchange fell by CNY 72/t ($10/t).
However, one trader tells Kallanish that 4sp billet was offered at below $440/t cfr Malaysia last Wednesday, which was equivalent to around $421/t fob China for 3sp billet.
Source:Kallanish
