It is reported that billet import prices in Southeast Asia have increased during these few weeks. The recent prices have been concluded at 570 USD per tonne (cfr) which is an increase of around 10USD per tonne. The offers from Malaysia, Taiwan and Thailand rose to around 575-585 USD per tonne cfr. Malaysian mills are quoting at 585 USD per tonne cfr. The higher prices are believed to be due to the perceived shortage of billet into the region while the consumption remained high. It is believed that the prices could remain high till October and some believe that it could reach up to 600 USD per tonne cfr. More importantly, there are rumours that China will increase export tax for Chinese semis from 15% to 20% which is expected to be announced soon.