Posted on 18 Apr 2025
The billet import market remains quiet in ASEAN this week, Kallanish notes. Most suppliers are maintaining offers at roughly similar levels to last week, with billet prices continuing to move within a narrow band amid sluggish buying.
However, Indonesian mill Dexin Steel has reverted its prices back to a recent low. The mill lowered on Thursday its 3sp 150mm billet export offer for June shipment to $428/tonne fob. This is the third consecutive daily price drop – its quote was at $435/t on Tuesday and $430/t on Wednesday.
“Demand is very slow and the local currency is weak,” a Jakarta trader says on the price cut.
Dexin's recent lowest price early last week was at $428/t fob, an ASEAN mill manager notes. "The billet market is weak," he says. "I think it is not easy to increase prices with China selling [3sp 150mm base] billet at $420-430/t fob.” Dexin held its billet prices at $435/t fob during 10-15 April.
Offers for Chinese 3sp 150mm billet are prevailing at $440-445/t cfr Indonesia, trading sources say. Chinese 5sp 150mm billet for June shipment is currently quoted at $449-451/t cfr Jakarta, a local mill manager observes. He adds that interested buyers can counterbid on the offer, guessing that some buyers may be willing to pay at just below $447/t.
Billet prices in Indonesia are at about the same level as last week, he adds.
In Manila, offers for June-shipment 5sp 150mm billet of open origin, either Chinese or ASEAN, are at around $450/t cfr, compared to $445-450/t cfr last week. Many Philippines market participants are away because of the long Easter holiday weekend.
Around 15,000-20,000 tonnes of Chinese-origin 3sp/4sp 130mm billet were heard to have been booked at around $445/t cfr Philippines at the end of the week through 11 April.
Kallanish assessed 5sp/ps or Q275 120/125/130mm square billet at $445-449/t cfr Manila, unchanged on-week.
Source:Kallanish
