This week, global billet market was reported buzzy with trades from India and Iran with rise in offers from all the markets. Turkey’s imported scrap prices have managed to keep the global billet market sentiments robust. However, Turkeys imported scrap prices were reported stable this week. SteelMint’s assessment for Indian billet export stands at USD 420-425/MT, FoB India, up by USD 10 W-o-W.
Iran- Major billet producer- Khouzestan steel company has concluded billet export tender for 30,000 MT billet of size 150*150mm and 3 SP grade. According to sources, the company has concluded the tender to East Africa and the deal value was reported to be around USD 400/MT, FoB Iran. The shipment is schedule for end Feb’20. With this deal billet export offers from the country has rose by USD 10/MT, against last week
CIS – This week, billet export offers from CIS nations, rose marginally and is standing at USD 405-415/MT, FoB Black Sea, up USD 5-10/MT, against last week. Billet export market sentiments of the country are reported strong.
SE Asia – This week, SE Asia’s billet import prices observed increaseBillet import offers in the region have marginally gone up by USD 5/MT and are at USD 445-450/MT, CFR. Rising global billet export offers and Turkey’s imported scrap prices have managed to keep billet market sentiments alive in the region, even in this trade absence week. Although, no hike in Turkey’s imported scrap prices were seen this week amid winter holidays in Europe and US.
India – SteelMint’s assessment for Indian billet export stands at USD 420-425/MT, FoB India, up by USD 10 W-o-W. Two mills namely SAIL and Vizag Steel concluded export deals this week for 18,900 MT and 30,000 MT respectively.
Vietnam- Domestic billet offerings from the country is at USD 420/MT, EXW, identical as last week.
China- Chinese domestic billet market was settled at RMB 3,340/MT, down RMB 50/MT against last week. The market sentiments in the country were reported weak.
SteelMint’s assessment for US-origin HMS (80:20) now stands at USD 300/MT, CFR Turkey, identical as last week.
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