Chinese buyers’ absence fails to halt rising Southeast Asian billet import prices

摘要

Prices in Southeast Asia’s steel billet market continued to climb during the week to Friday November 29 despite the absence of Chinese importers from the spot market. Chinese importers are wary of softer domestic demand for material arriving in January because of reduced construction activity during winter and the upcoming Lunar New Year holiday, a trader in Hangzhou said. The Lunar New Year holiday is officially observed in China from January 24-30, although many market participants will be away for up to a week before and after this period.