This week SE Asia billet import market was reported trade operative. The region was reported to book around 30,000 MT billets from CIS Nations. With these bookings, the billet export offers from CIS and India have moved up.Turkey’s imported scrap prices and the increased demand has managed to keep billet market sentiments vigorous in the region.
SteelMint assessment for billet import offers in SE Asia is at USD 415-420/MT, CFR, up USD 10/MT against last week. Indian billet export offers were reported at USD 400-405/MT, FOB.
Billet export offers from CIS rise Sharply in a recent deal – This week, Philippines has booked around 40,000 MT billets from CIS Nations at USD 415-420/MT, CFR. With this deal, the billet export offers from CIS nations are surged by USD 10/MT. SteelMint assessment for billet export offers from the region are at USD 385-390/MT, FoB Black Sea. Market sentiments were reported strong in the region.
Vietnam domestic billet offers remain stable- This was the consecutive week, when no export offers were reported from the country. However, domestic billet offers were heard around USD 405/MT ex-works, up identical as last week.
As per SteelMint’s methodology, assessment of US-origin HMS 1&2 (80:20) scrap stands at USD 263/MT, CFR Turkey, increasing by USD 1/MT against last week.
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