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GLOBAL BILLET WRAP: Price Trends In Asia And THE LANGUAGE OF STEEL
May 08, 2018

GLOBAL BILLET WRAP: Price trends

Asia
Southeast Asia’s billet import prices moved up further during the week mainly due to tighter supply and improved demand from the Philippines.
Deals involving cargoes from Taiwan, Thailand and the Commonwealth of Independent States were heard concluded at $555-560 per tonne cfr to the Philippines late this week,
 
up from $540-555 per tonne cfr a week ago.
In the Philippines, several buyers were willing to pay higher prices because they were running low on inventory. Other Filipino re-rollers, who were not in a rush to procure, indicated their interest at $540-550 per tonne cfr.

Indonesian buyers were still reluctant to buy.
Some Indonesian re-rollers are hoping to purchase cheap cargoes during the Islamic holy month of Ramadan, which starts in mid-May, an Indonesia-based trader said.
Billet availability was limited during the week, particularly from the Middle East, while suppliers in China and India continued to enjoy strong domestic trading.
Middle Eastern billets were offered at $550-560 per tonne cfr to Indonesia. Offers for materials from South Korea and Central Asia were heard in the Philippines at $555-560 per tonne cfr.
Chinese offers reached $560-570 per tonne cfr in Southeast Asia and East Asia this Friday, up by $10 per tonne from a week earlier.
Domestic billet prices in China stood at 3,660 yuan ($575.71) per tonne on May 4, 90 yuan per tonne higher than last Friday. 
Inventory of the semi-finished product in Tangshan was 520,000 tonnes on Friday, down by 50,000 tonnes from a week ago, a trader in Tangshan said.
 
Chinese offers for Q235 150mm billets were at $535-540 per tonne fob, up by $5 per tonne from last week, but no buyers were interested in buying from China due to the high prices.

THE LANGUAGE OF STEEL

Apparent steel use (ASU)

ASU is obtained by adding up deliveries (defined as what comes out of the steel producer's facility gate) and net direct imports. As a unit of measurement we uses the metric tonne.

Bar

A finished steel product, commonly in flat, square, round or hexagonal shapes. Rolled from billets, bars are produced in two major types: merchant and special.





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