Formosa Ha Tinh Corporation (FHS)- Vietnam’s largest steel manufacturer of the country has announced its billet offers. The price offered for billet by the company is reported to be USD 404/MT, CIF North Vietnam and that too for South Vietnam is reported to be USD 409/MT CIF, down by USD 14/MT, against last month.
SE Asia billet import offers witness a sharp drop–After remaining stable for the consecutive weeks, SE Asia billet import offers dropped sharply amid the increasing intensity of the epidemic of COVID-19.
Meanwhile, the Indonesian domestic billet offers were reported stable unlike the imports and are standing at IDR 7000/MT, tax-inclusive, identical as last week.
SteelMint’s assessment for SE Asia billet import at USD 400-410/MT, down USD 5 against last week.
CIS billet export offers fall marginally – CIS billet export offers reported a slight decline this week. The billet export assessment from CIS nations is at USD 385-390/MT, FoB Black Sea, down by USD 5 W-o-W. Recent plunge in the exchange rate of Ruble against USD has resulted in a decline in Russian billet export prices. Ruble is trading at around RUB 73 against USD versus RUB 64 a month back
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