PRICING NOTICE: Proposed change to SE Asia import billet assessment

Steel First is proposing the inclusion of Chinese billet prices in its weekly Southeast Asia import billet assessment.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

To date, Steel First has been assessing only non-Chinese material in the region due to Chinese mills typically declaring billets as “alloy square bars” to avoid paying a 25% export tax on semi-finished carbon steel and claim a 13% export tax rebate.

Despite this circumvention in China, these cargoes continue to be imported in most Southeast Asian countries, especially the Philippines and Indonesia.

Chinese billets have been dominating the import market in Southeast Asia, with deals for non-Chinese material occasionally heard only in Thailand.

Steel First plans to start considering Chinese billets in its assessment effective Monday July 6.

Please submit your comments on this proposed change to Weilyn Loo by Friday June 19.

What to read next
The publication of Fastmarkets’ US rebar prices took place earlier than scheduled on Wednesday March 22 due to a reviewer error.
Fastmarkets proposes to amend the frequency of its P1020A aluminium import premium assessment in Brazil to monthly, from fortnightly.
Prices for cobalt metal have witnessed a sustained rally and recovery in recent weeks, after hitting lows at the beginning of the year, even while market participants see challenging conditions on the supply side in the longer term
Glencore’s Gary Nagle might have spoken too soon when he said that his company wouldn’t be hit by a nickel fraud similar to that seen by its rival, Trafigura
Fastmarkets proposes to amend its steel cut-to-length plate carbon grade, fob mill US assessment to exclude material below 0.375 inches of thickness, which is sold with an added cost by several major mills.
The European Union’s much-anticipated Critical Raw Materials Act, announced on Thursday March 16 by European Commission president Ursula von der Leyen, has set out new lists of the raw materials now formally designated as strategic and critical
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed