Philippine steel billet importers have re-entered the import market for steel billets at lower prices in recent days, sources told Fastmarkets on Friday June 24.
Prices for steel scrap exported from Japan are likely to remain well supported over the coming weeks due to a continuing battle for material between domestic buyers and the dockyards, sources told Fastmarkets this week.
Further export sales of Chinese steel billet to Southeast Asia have come to light in recent days, with Chinese traders continuing to take advantage of an open price arbitrage, sources told Fastmarkets.
Sales prices for steel billet imported into the Philippines have hit $800 per tonne cfr in recent days, but most sellers are holding back from making offers in the hope of achieving even higher prices in the near future.
Sales prices for steel billet imported into the Philippines have hit $800 per tonne cfr in recent days, but most sellers are holding back from making offers in the hope of achieving even higher prices in the near future.