This week, the SE Asia billet import market witnessed limited trades, after posing some trade active weeks. The trade silence in the region is primarily due to the price increase. All the major billet exporting nations have increased their prices. For instance, the import prices in the SE Asian region are as below-
* From India- $410/t, CFR
*From CIS- $400-405/t, CFR
*From Iran- $390-400/t, CFR
SteelMint assessment for billet import in SE Asia have increased sharply and is at $400-410/t, CFR levels, up $10-15 against last week. Hike in scrap prices has increased billet offers. Turkey imported scrap prices have strengthened to 3-months high in deals concluded this week. Tighter scrap availability has kept global scrap prices on the higher side.
Vietnam– Following the global trend, the billet export offers from the country witness marginal rise and is currently at $410/t, FoB Vietnam, up $5, against last week.
CIS billet export offers witnessed a marginal rise- The billet export offers from the region were noted to witness a rise of $5/t, to reach $365-375/t, FoB Black Sea. This week, numerous bookings to China were noted from the region.
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