Posted on 22 Dec 2025
Trading in the Chinese and ASEAN billet markets is winding down as the year-end holidays approach, Kallanish notes.
In China, offers for 3sp 150mm material were at around $432/tonne fob on Friday last week, up by only $0.5/t week-on-week, although the most traded, May rebar contract on the Shanghai Futures Exchange rebounded by CNY 59/t ($8/t) over the week. However, there were almost no transactions in the export market last week, according to Chinese exporters.
It was also quiet in the Philippines. A small January-shipment cargo of 130mm 5sp induction furnace billet from Vietnam was heard concluded mid-week at around $455/t cfr Manila. There was also an offer for 130mm 3sp EAF billet from Japan at $450/t cfr which would be equivalent to around $455/t cfr if it was 5sp grade.
In Manila, offers for Chinese 5sp 150mm billet for February shipment were prevailing at $452-455/t cfr, up from $450/t cfr the previous week.
Kallanish assessed 5sp/ps or Q275 120/125/130mm square billet on Friday at $450/t cfr Manila, up $5 on-week.
In Indonesia, Chinese 3sp 150mm billet is offered at $450/t cfr and for 5sp grade at $455/t cfr, for February shipment.
Indonesia mill Dexin Steel's offer for 3sp billet for March shipment was at $442/t fob last Friday. The mill hiked prices on two occasions last week, by $3/t on Tuesday and another $2/t on Thursday.
Source:Kallanish
