Malaysia steelmills raised square billet offer
Published: 19 Aug 2009 23:03:08 PSTAugust 20 MetalBiz--The climbing scrap price pushed up the Southeast Asia's square billet price.
Traders stated that Malaysia steel firms' the latest offer rose to US$510 per ton (FOB), while the price in the beginning of August for US$470 per ton. On August 16, the trading price in small lot was US$500-510 per ton (FOB). In spite of no transaction, buyers purchased products merely to make up for the inventory.
It is said that Malaysia increased the scrap quotation to US$330-350 per ton (CFR) from US$280 per ton two weeks ago.
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