[SMM Iron & Steel] Asian Billet Supply Remains Tight; Prices to Southeast Asia Expected to Rise Further

Published: Apr 23, 2026 15:56

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The Asian billet market is facing sustained supply constraints as major regional producers prioritize domestic requirements, leading to a further reduction in export allocations. Current offers for 3SP grade induction furnace billet have reached approximately $510-$520/mt CFR Southeast Asia. With Vietnam’s major mills maintaining high capacity utilization for internal consumption and Indonesian supply limited by scheduled maintenance, the regional supply-demand balance remains tilted toward a deficit. This trend is expected to push transaction prices higher in the coming weeks, impacting the global supply volume and reinforcing a bullish trend for regional semi-finished steel.

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