Chinese and ASEAN billet prices inched up last week, Kallanish notes.
In China, offers for 3sp 150mm billet rose by $3/tonne week-on-week on Friday amid rebounding futures prices and an appreciation in the Chinese yuan to US dollar.
The most traded January 2026 rebar contract on the Shanghai Futures Exchange meanwhile inched up by CNY 19/t ($2.7/t) last week.
Bids from overseas customers were at least $5/t lower than offers, traders told Kallanish. Additionally, mills were reluctant to cut prices due to poor margins, resulting in inactive transactions last week.
Chinese 5sp 150mm billet offers were around $448-452/t cfr Jakarta, around $2-3/t higher than last week.
Indonesia mill Dexin's offer for 3sp 150mm billet slipped by $3/t w-o-w to $430/t last Friday.
In Manila, deals for Chinese, 5sp 150mm minimum 0.70 Mn content billet for December shipment took place at $445/t cfr while offers for Decemeber/January shipment were prevailing at around $450/t cfr at the end of last week. Offers were at $445-450/t cfr during the week through 7 November.
Kallanish assessed 5sp/ps or Q275 120/125/130mm square billet on Friday at $445/t cfr Manila, unchanged on-week.
Source:Kallanish
