Asian billet and rebar prices continued to decline on August 13 due to weak domestic demand in China. The price of 5SP 130mm billet CFR Southeast Asia was at $471/mt, decreased by $4/mt compared to the previous day, and spot price of 3SP 150mm billet was at $366/mt CFR China, decreased by $5/mt compared to the previous day.
Source: VNTRUSS
The price of 5SP 150mm billet was at $465/mt CFR Manila, decreased by $4/mt compared to the previous day, while Chinese billet was offered at $440/mt, decreased by $10/mt.
Exporters are said to have difficulty getting orders at $440/mt FOB China and FOB Indonesia. Buyers are still waiting for prices to stabilize.
The price of 5SP 130mm billet CFR Southeast Asia was at $471/mt, decreased by $4/mt compared to the previous day, and spot price of 3SP 150mm billet was at $366/mt CFR China, decreased by $5/mt compared to the previous day.
In the seaborne rebar market, offer prices were at $485/mt CFR Singapore theoretical weight and $490/mt CFR Hong Kong actual weight.
BS4449 grade 500 16-32mm rebar price was at $483/mt CFR Southeast Asia, decreased by $14/mt compared to the previous day, and BS500B grade 16-40mm rebar export from China was at $474/mt FOB, decreased by $13/mt compared to the previous day.
(Source: Vietnam Steel Association)
