The downtrend in the global #billet market has continued this week even though prices had already posted significant declines over the previous few weeks. The still bearish mood in the #scrap segment and traders’ aggressive pricing in some destinations like Asia signaling that the #billetprice downtrend may continue in next week too, though in general the space for a decline is more limited now.
Ex-China billet prices have continued to decrease, following continuous losses in the local market, making traders more aggressive and, as a result, the outlook for the Southeast Asian market in general has remained bearish, even though major ASEAN-based mills have kept offers for billet stable after the sharp drop last week. Ex-Indonesia billet offers from the major domestic BF-based mill have remained at levels of $565-570/mt FOB, similar to what was announced last week. There has been a rumor about of a sale at $560/mt FOB, but this has been heard as done to Latin America…
