PRICING NOTICE: Proposal to amend cfr Southeast Asia steel billet price specifications

Fastmarkets proposes to make two amendments to the specifications of its daily price for steel billet, import, cfr Southeast Asia.

The proposed changes are in response to market feedback requesting a change in the price specification to make the price assessment more representative of the cfr Manila steel billet import market.

The Philippines is the largest steel billet importing nation in Southeast Asia and has increased its importance within the region due to Indonesia increasingly raising its purchases of domestic blast furnace (BF) billet and its reliance on Iran-origin material.

Fastmarkets’ daily price assessment for steel billet, import, cfr Southeast Asia excludes prices for Iran-origin billet from its assessment due to the steep price discount between Iran-origin material and BF billet from other popular origins such as Vietnam, India and Russia.

The proposed amendments concern:

1. Changing the price name so that the assessment is on a cfr Manila basis rather than a cfr Southeast Asia basis.
2. Changing the quality of material assessed to a high manganese modified 5sp, with manganese content of 0.8-1%.

The proposed new specifications are as follows:
MB-STE-0141 Steel billet import, cfr Manila, $/tonne
Quality: 120x120mm to 150x150mm, length 12m, modified 5sp, manganese content of 0.8-1%
Quantity: 5,000-50,000 tonnes
Location: cfr Manila (other Southeast Asian ports to be normalized)
Timing: 6-10 weeks
Unit: US dollar/tonne
Payment terms: Letter of credit
Publication: Daily, 5-6pm Singapore time

The consultation period for the propped changes starts Wednesday December 30 and will end on February 1. The proposed changes, subject to market feedback, will be implemented on February 3.

To provide feedback on the proposed amendments to the specification, or if you would like to provide price information by becoming a data submitter to Fastmarkets’ steel billet pricing, please contact Lee Allen by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Lee Allen, re: Southeast Asia steel billet price.”

To see all of Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/about-us/methodology

What to read next
The European Union’s Carbon Border Adjustment Mechanism will be implemented in seven months’ time but the region’s steel industry was still not fully prepared for the gradual changes the system will involve, Fastmarkets heard on Thursday May 8 at the Made in Steel trade fair in Milan, Italy.
Discover how President Trump's tariffs impact the US fluff pulp export market, specifically targeting the EU and China.
The graphite industry in 2025 faces major challenges, including trade wars, high US tariffs on synthetic graphite and policy changes affecting EV manufacturing and tax credits. Low natural graphite prices, oversupply and slow EV growth make diversifying supply chains essential for market stability.
Analysts suggest that the "One, Big, Beautiful Bill" may impact clean energy and battery manufacturing in the US by altering key incentives from the Inflation Reduction Act (IRA).This may disrupt supply chains, cut investment in renewable energy and raise costs for electric vehicles, home energy products and other clean technologies.
CBAM creates a new frontier of opportunity for low-emissions producers who can offer cost-effective, sustainable alternatives.
Explore the impact of the trade war on the Chinese paper market with insights into April's data and economic signals.