Imported billet offers to SE Asian countries have increased by around USD 5-10/MT this week, SteelMint learned from market sources. Current offers for 125mm (5SP) billets are heard in the range of USD 490-495/MT CFR Philippines, which was assessed at USD 485/MT CFR Philippines last week.
“A Honk-Kong based trader heard to have sold 20,000 MT billet from Middle East region to Philippines at around USD 490/MT CFR Manila and have increased the offers to USD 495/MT CFR” said a billet trader. Prices are likely to go up further, he further added.
An Indonesian mill heard to have received offer for 125mm billet at around USD 500-505/MT CFR.
Indian billet exporters have hold their offers owing to better realizations in domestic market. Current prices for induction grade billet are hovering at INR 30,000-30,500/MT (USD 465-472), ex-Gujarat (Indian western region). Indian induction grade billet exporters would eye a price level of USD 470-480/MT FoB, in order to match current domestic prices. Indian billets export is expected to have touched 2.05 MnT during first 11 months of 2017.
Vietnam based manufactures increase their export offers to Philippines by USD 20-25/MT to USD 540-545/MT CFR Manila. This is a result of expensive scrap and rising domestic billet prices in Vietnam.
CIS based suppliers are expecting increase in prices owing to increased scrap and coking coal prices. Current offers from CIS region are assessed at USD 470-475/MT FOB Black sea.
Iranian billet exports prices are assessed at USD 460-470/MT FOB Iran main port.
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