Key Asian markets Taiwan and the Philippines will have to rely more on higher-priced steel billet from Southeast Asia if they can no longer procure Russian material amid the ongoing Russia-Ukraine conflict, according to sources.
Key Asian markets Taiwan and the Philippines will have to rely more on higher-priced steel billet from Southeast Asia if they can no longer procure Russian material amid the ongoing Russia-Ukraine conflict, according to sources.
Offers for seaborne cargoes of steel billet into Asia have stayed high despite the continued absence of China from the import market, sources told Fastmarkets.
Deals for imports of steel billet to key Asian markets are expected to soon surpass $700 per tonne cfr should market fundamentals remain constant, market sources told Fastmarkets on Friday February 11.
Prices for steel billet imports into key Asian markets have continued to gain ground over the past week with a handful of fresh deals heard, sources told Fastmarkets on Friday January 21.