Singapore—East Asian steelmakers have seen imports of steel billet continue to grow in a trend that started in the fourth quarter of 2018, driven mainly by the diversion of supply from other regions and higher costs of ferrous scrap and iron ore, market participants said. Thailand, Indonesia and South Korea saw import volumes in the first half of this year post double-digit year-on-year growth in percentage terms, as cheaper billet became available. This saw some companies decide to switch off their electronic arc furnaces, or EAFs, during periods when it was less economical to melt scrap.
展开▼
