Manila billet market drifts lower

摘要

The billet import market drifted lower last week in Manila, Kallanish notes. While there were several offers for material from Turkey and the CIS, buyers remained on the sidelines. Offers for Turkish 130mm square billet were prevailing at $530/ tonne cfr Manila and Russian ex-Black Sea 130mm billet, $525/ t cfr. These offers are for November shipments. While prices continue to prevail at similar levels as before, buying interest has been very weak. Certain buyers are not keen to book billet from Turkey and the Black Sea because they involve longer transit time.