SE Asian billet market witnessed a marginal drop this week. Where Indonesia was reported to book 40,000 t billets from India; Thailand, and the Philippines were noted silent this week. Post India-Indonesia billet deal, buyers started bidding at slightly lower levels ($400/t, CFR), which has created a disparity between bids and offers and has led to limited billet imports for this week.
However, this disparity has created a space for CIS billets, offers for which are standing at $360-365/t, FoB levels, stable as last week. During a conversation with a trade source, SteelMint learned “Since China has slow down the billet buying from CIS Nations, inventories are piling up in the region. This could upturn the region’s focus towards Thailand, Philippines, and Indonesia, etc. Although these countries don’t have that appetite as China, and CIS has to again rely on China for exports.”
This week’s SteelMint assessment for billet import offers in the SE Asia region noted a downside marginal drop and is currently at $400-410/t, CFR, down $5 against last week
Vietnam billet export offers drop- The billet export offers from the country witnessed a sharp drop and is currently at $395/t, FoB, down $5 against last week. However, the country was reported to book approximately 80,000-100,000 t billets for China in recent. According to sources reported to SteelMint, the deal value was noted to be at $408-410/t, CFR. The country is emerging as a net exporter of the billets.
Meanwhile, Malaysia was also noted offering billets to China at $400-401/t, on CFR basis. However, SteelMint noted no trades.
The deals noted by the SteelMint, during this week, in/from the SE Asian region are as below- 
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