Southeast Asian billet import prices decline amid bearish post-New Year outlook

摘要

Prices in Southeast Asia’s steel billet market declined during the week to Friday January 3 because of bearish market sentiment for ferrous scrap prices in the bellwether Turkish market. “Billet prices are likely to face pressure from declining ferrous scrap prices in Turkey because the Turkish mills have not been able to achieve higher prices for finished long steel products,” a trader in the Philippines said. Turkish ferrous scrap import prices are indicative of global scrap price trends because the country is the world’s largest importer of the steelmaking raw material.