SE Asia billet import market was seen meagerly trade active. The Russian billet offers were assessed at USD 390/MT, CFR Thailand, identical as last week. Market sentiments in the region were reported stable. However, imported scrap prices in Turkey reported a rebound after declining continuously for 3 months, which has managed to keep region’s billet market sentiments stable.
Billet export offers from CIS witness a rise – This week billet export assessment from CIS nations stands at USD 350-355/MT, FoB Black Sea, up USD 5/MT against last week. The market sentiments are strengthening the region. Clues can be witnessed with some recent deals to Middle East and Africa from the region; a Ukrainian integrated producer sold around 50,000 MT billet to Saudi Arabia at USD 386/MT, CFR. Another deal of quantity 25,000 MT to Africa is reported to conclude at USD 356/MT from Russia.
Vietnam resumes billet exports offers– The country is reported to resume billet exports this week amid improving export realizations. This week Vietnam’s billet offers are at USD 395/MT, CFR Manila.
As per SteelMint’s methodology, an assessment of US-origin HMS 1&2 (80:20) is at USD 233/MT, CFR Turkey, up USD 6-7/MT against last week’s report. While assessment of European origin HMS 1&2 (80:20) also stands stable at around USD 228/MT, CFR Turkey.
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