As shipping costs continued to rise, buyers remained cautious in their purchasing activities. However, Asian billet prices stayed firm. Meanwhile, the RMB appreciated to around 6.86 against the US dollar, which has supported the high price base for Asian billets.

In China, the domestic market has been quite active recently. Fluctuations in futures prices have created more trading opportunities for traders engaged in both futures and spot markets. However, the export market has remained relatively quiet.

Taiwanese prices have also remained at similarly high levels. Steel traders stated that the uncertainty surrounding shipping costs has significantly disrupted billet trading. The current estimated freight cost is at least around US$20 per ton.

Southeast Asian markets are performing well overall, with strong demand for wire rod and finished steel, alongside steady increases in billet prices. This regional strength is complemented by active inventory replenishment from Taiwanese steel mills and sustained purchasing interest across various local markets.