Recently, Southeast Asian steel mills and traders holiday, return to the market, the price of square billet rose significantly.

 It is understood that the current export price of Vietnam billet is about $580 / ton FOB, a substantial increase of $10-15 / ton. The specification of Indonesia is 3SP, and the quotation of 150mm billet is about $575 / ton FOB. The quotation of Malaysian steel mill has not been updated.

 The Southeast Asian billet market is now in a “seller’s market”, with rising scrap and iron ore prices supporting export prices to some extent, and with demand now improving in many countries. Demand in Vietnam is clearly improving, some mills need to replenish inventory, and the Philippines also needs to purchase for the first quarter construction works. However, Mysteel understands that Philippine buyers have a limited choice of billet resources, and currently acceptable prices are around $570- $580 / mt CFR.