Southeast Asian billet import price rises on rebound in scrap markets

摘要

Billet import prices in Southeast Asia nudged upward in the week ended Friday July 5 after producers raised their asking prices in response to a rebound in the ferrous scrap market. Trading activity in the region remained quiet during the rainy season in the Philippines, however. The price of ferrous scrap in the bellwether Turkish market surged because steel mills in the country needed to procure feedstock for August shipments of finished steel products and billet.