Turkey’s increased scrap import prices are driving the trade sentiments across the globe. SteelMint’s assessment for US origin HMS (80:20) stands at USD 313-315/MT, CFR Turkey, higher by around USD 10-15 against last week.
Offers from CIS Nations rise sharply: US tariff cuts on steel imports from Turkey has started strengthening the trade sentiment in CIS nations, effects can be witnessed with recent billet export indications from CIS nations, which was reported to be USD 430-435/MT, FoB Black Sea. This is higher against last week offers of USD 410-415/MT, FoB Black Sea.
Another factor which will support the trade sentiment in CIS nations is the increased scrap prices in Turkey. Although, not much offers revealed this week, the market is following ‘wait and watch’ approach for few days, sources reported to SteelMint.
Iran billet export offers up by USD 10: The country’s billet market has started recovering from dull sentiments and has picked up pace this week. According to SteelMint’s assessment, this is primarily due to the recent increase in Turkey’s scrap import prices, which witnessed a hike of USD 10/MT, yesterday against last week.
As per sources a billet manufacturer from Iran, recently has revealed an export offer for 30,000 MT billets at USD 405/MT, FoB for June production. Rest all other Iranian steel mills are offering at USD 400/MT, FoB Iran.
Another reason, for boosted trade sentiments in Iran is CIS nations’ billet export offers which also witnessed a price hike of USD 10-20/MT this week. Yesterday, in a deal from CIS nations, billet export offers concluded at USD 430/MTFoB Black Sea, sources reported to SteelMint.
Iranian mill concludes deal to Philippines – As per sources, a deal has been concluded from Iran to Philippines. The deal quantity was reported to be around 30,000 MT billet at USD 420/MT, CFR.
Vietnam billet offers – This week Vietnam billet (130*130mm, 5 SP grade) offers were reported to be USD 465/MT, CFR Manila. The trade sentiments are reported stable in Vietnam, this week.
Thailand books 30,000 MT billets booked from Russia – This week, a deal of quantity of around 30,000 MT has been concluded for which shipment is scheduled in Jun’19. The trade price of the shipment was reported to be USD 455/MT, CFR Thailand.
China domestic billet prices edge up: This week Chinese domestic billet prices settled at RMB 3,590/MT, up RMB 40 against last week. Today the prices have climbed further to RMB 3,600/MT (including VAT) in Tangshan. Billet trade sentiments reported strong this week.
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