This week, SE Asia billet import market witnessed limited trades over sharp drop in billet import offers. Billet import offers in the region fell by USD 5-10/MT W-o-W. The two major reasons which are driving the price drop in the region are recently fallen Turkey’s imported scrap prices. SteelMint assessment for billet import offers in SE Asia is at USD 430-440/MT, CFR, down USD 5-10/MT against last week.
Iran has recently booked 30,000 MT billets at USD 395-400/MT, FoB Iran to SE Asia for March shipment. ,
Billet export offers from CIS witness marginal drop– CIS billet export offers drops marginally by USD 2-5/MT amid disparity between bids and offers and now fallen Turkey’s imported scrap prices will support the event. This week, billet export assessment from CIS nations are at USD 405-410/MT, FoB Black Sea.
Imported scrap trades to Turkey had remained slow since the beginning of the New Year. Trade sources indicated that amid falling finished steel demand, buyers aren’t actively procuring material at high offers.
SteelMint’s assessment for HMS 1&2 (80:20) from USA origin stands at USD 285-290/MT CFR Turkey, down by over USD 15/MT against last week, while the assessment from Europe stands at USD 280/MT CFR.
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