This week, the SE Asia billet import market was reported to witness decent trades, with offers being noted stable. India and Iran were noted to be the prominent billet suppliers for the consecutive week.
Thailand was reported to book, approximately 60,000 MT billets from India and Iran. The deal value was noted to be USD 401/MT, CFR, and USD 385/MT, CFR respectively. SteelMint assessment for billet import in SE Asia is at USD 385-395/MT, CFR levels, identical to last week.
Vietnam– The billet export offers from the country witness marginal rise and is currently at USD 405/MT, FoB Vietnam, up USD 5, against last week. While domestic offers were reported stable and are at USD 395/MT, CIF.
CIS billet export offers witness a decent rise- The billet export offers from the region were noted to witness a rise USD 10-15/MT, to reach USD 360-365/MT, FoB Black Sea. This week, numerous bookings to China were noted from the region.
Meanwhile, Turkey’s imported scrap prices have witnessed a rise and have hit 2-months high in recent deals concluded. As Turkish steelmakers continue actively booking imported scrap cargoes, prices for the same moved up in the latest couple of bookings confirmed yesterday. However, the event has not impacted the import offers in the region, as of now.
SteelMint’s assessment for US-origin HMS 1&2 (80:20) now stands at USD 258/MT CFR Turkey, up by USD 4/MT in comparison to deals earlier this week. Current price levels are seen at almost 2-months high as similar levels were last seen in mid-Apr ’20. The assessment for European origin HMS 1&2(80:20) assessment stands at USD 254/MT CFR.
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