Southeast Asian billet prices dropped as sellers from several origins cut offers amid slow demand Sept. 25, while buyers preferred waiting on bearish outlook. The Chinese market was quiet with stable spot prices amid public holidays approaching, lagging overseas offers. The Southeast Asia 5SP 130 mm billet spot price was assessed at a midpoint of $443/mt CFR Manila, down $3/mt from Sept. 24. In the Philippines, sellers from Russia and Vietnam cut offers to $445-$448/mt CFR for December shipment, down $2-$5/mt on the day, while November shipment was slightly higher due to tight supply.
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