September 08, 2008

Vietnamese billet import prices soars to a news high

Vietnamese import price of square billet has reached USD 900 per tonne CFR, about USD 100 per tonne higher from the beginning of March.

One week ago, the Malaysian export price of billet was contracted at around USD 870 per tonne CFR, but now the offering price hit as high as USD 900 to USD 910 per tonne CFR.

Due to short supply from CIS, Russian square billet export price to Vietnam has soared to USD 910 per tonne CFR. The main reasons were surging raw materials and production costs.

Taiwanese government has banned the export of billet which is also a key factor to drive Vietnam’s billet price soar.

(Sourced from YIEH.com)