The glad tidings are expected to knock the SE Asian market as Turkey’s scrap import prices has started gaining rise since this week. However, the market awaits billet deals to be concluded at high prices.
South East Asia billet import offers are assessed around USD 450-455/MT, CFR levels, the trade sentiments are reported stable this week. Offers from CIS nations to Thailand were assessed around USD 450/MT, CFR Thailand.
Billet export offers from CIS nations- This week offers from CIS nations were assessed at USD 415-420/MT, FoB Black Sea. The sentiments were reported marginally strong in the region.
Vietnam billet offers – This week Vietnam billet (130*130mm, 5 SP grade) offers were reported to be USD 460/MT, CFR Manila. The billet export trade sentiments are reported marginally up this week in Vietnam.
Another reason which is keeping the marketers in dilemma is US sanctions, which are getting heftier with every passing day. Turkey imported scrap prices have rebounded by USD 10-12/MT against last week. SteelMint’s assessment of imported HMS 1&2 (80:20) stands at USD 293/MT, CFR Turkey.
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