Indian billet export price assessment has moved down sharply this week by around USD 20/MT. According to market sources report to SteelMint, export price assessment for Indian origin billet (15*150mm) is at USD 505-510/MT, FoB India unlike last week’s assessment of USD 530-535/MT, FoB.
Global billet export market has observed decline in offers this week primarily owing to cheaper supplies coming from Chinese mills. Billet export offers from Chinese mills have fallen sharply by USD 25/MT W-o-W and current assessment is at USD 510/MT, FoB.
After plunge in iron & steel futures in Chinese market last week, Chinese billet offers to SE Asian nations fell to USD 550/MT, CFR (around USD 530/MT, FoB) by the end of last week. Further this week reports suggest few Chinese billet export deals also to be concluded with SE Asian nations at lowered prices of USD 525-535/MT, CFR.
Global billet market overview – Week 13, 2018
1.Domestic spot billet (150*150mm, Q235) prices in Tangshan, China assessed at RMB 3,390/MT against RMB 3,370/MT in the beginning of this week. Prices mentioned are including 17% VAT.
2. CIS billet export price assessment has also moved down this week to USD 525-530/MT, FoB Black Sea, down by USD 10/MT W-o-W.
3. India’s Vizag Steel had floated tender for export of 20,000 MT bloom (10,000 MT 150*150mm and 10,000 MT 200*200mm ) for 31 Apr’18 delivery. As per trade sources report to SteelMint, the tender has not been concluded yet and is under negotiations.
4. Domestic billet prices in India moved up yesterday except in southern India. Price assessment stands at INR 34,400-34,600/MT for 125*125mm (ex-Mumbai, GST@18% extra).
5. Turkey billet export price assessment has also come down by USD 5/MT W-o-W to USD 575-585/MT, FoB.
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