Surging Chinese steel prices boost SE Asia billet mart

摘要

Prices for steel billet imported to Southeast Asia have been heavily inlated amid bullish Chinese steel markets this week, market participants told Fastmarkets on Tuesday November 10. Increasingly strong Chinese steel prices over the last week have led to a surge in steel billet offer prices to the Manila market, despite muted buying interest amid high stock levels in the Philippines. Buyers in Thailand and Indonesia remained out of the market.