It is reported that currently, overseas supplier has kept increasing the quotes of square billet to Southeast Asia.
The average prices of square billet from Taiwan, South Korea and Russia have been increased f to USD 585 to USD 600 per tonne CFR from USD 580 to USD 590 per tonne CFR in the two weeks.
Besides, the quotes of square billet from Malaysia have soared to USD 605 to USD 610 per tonne from USD 590 to USD 600 per tonne in the past two week.
Steel producers said that recent increasing scrap price pushed billet prices rise sharply.
(Sourced from YIEH.corp)